On behalf of the Board and Management of Guardian Media Ltd, it gives me great pleasure to extend a very warm welcome to all of you, and to say how much we appreciate your presence here this morning. I would especially like to thank the Honorable Prime Minister and the Minister of Government for taking the time off their busy schedules to be here with us, and particularly to thank the Prime Minister for agreeing to give the feature address.
We interpret your presence here as a sign of our Government's commitment to press freedom, and your recognition of the important role of the independent media in the nurturing and preservation of a strong democracy. As most of you may be aware, the "Trinidad and Tobago Guardian" (formerly called the Trinidad Guardian) is the longest surviving daily newspaper publication in Trinidad and Tobago.
The Trinidad Publishing Company Ltd (as it was then called) began publication of the Trinidad Guardian in 1917, and is fast approaching its centenary landmark.The longevity and prominence of our newspaper over the years can be attributed to the commitment and passion of several generations of shareholders, directors and managers who have guided and nurtured the publication over its long history, and who remained steadfast in their commitment to preserving the notable attributes of the publication, namely-accuracy, reliability, fairness, balance and responsibility.
I make bold to say that our newspaper is generally regarded as the most responsible publication in Trinidad and Tobago.Without compromising our profitability we have always prioritised the preservation of the core values of the newspaper over commercial considerations. The Company broadened its operations 12 years ago by the acquisition of the operating assets of the Trinidad Broadcasting Company which included three FM and one AM frequency radio stations.
The radio network was further expanded in 1998 to include four FM and one AM frequency. From the time of acquisition the radio division has progressively grown in market share, ratings and profitability. In 2005, with the launch of CNC3, the company expanded its operations into cable television. In 2008 the TV broadcasting operations were further expanded from cable to free-to-air national broadcasting.
Notwithstanding the efforts at widening its operations into the three established arms of traditional mass media, the company did not lose focus of its flagship operation the Trinidad and Tobago Guardian.Accordingly, in 2002 and again in 2006 the company made revolutionary changes to the size, design, layout and writing style of the Guardian in keeping with market research and its strategic intentions of growing the publication.
In 2008 the company acquired a new high speed and highly automated KBA printing press, which we installed and commissioned at our newly constructed premises at Chaguanas and there began publication of the Trinidad Guardian as a full colour newspaper. This was later adjusted to partial colour based on other commercial considerations.
Over the past 14 years the face of our company has changed. It is no longer only in the business of newspaper publishing, but is now a dominant multi-media operation, highly profitable and poised for further growth and expansion.It is because of these developments over the past 14 years, and our plans for further expansion and growth that we thought it appropriate to change the name of the company from Trinidad Publishing Company Ltd to Guardian Media Ltd to signal and align the expansion of the Guardian company's operations into wider media.
In the years ahead we have ambitious plans for capitalising on opportunities in new and emerging media. In closing it will be remiss of me if I did not pay tribute to Mr Grenfell Kissoon, our retired Managing Director, for his sterling leadership over the past 16 years. Nearly all of the changes of which I spoke, including the accompanying growth in profitability, took place under his leadership.
I would also like to express my gratitude and appreciation to my co-directors and the management and staff of Guardian Media Ltd for their contributions to our success story.With the change in name comes a change in leadership. The new Managing Director, Mr Gabriel Faria has exciting plans for building on the solid foundation and expanding further into new and emerging media...and we look forward with excitement and anticipation to these further developments.
Today signals a new dawn for our company...a landmark from which we will chart a new vision for the next generation of our business life.As we embark on this new, unpredictable and exciting phase of our business journey, we commit to be ever vigilant in preserving the founding principles and core values of the Guardian which have ensured its longevity, growth, value and respect.
We recognise the burden of responsibility that comes with our dominant role in national media. We are equally cognizant of our critical role in nurturing and preserving our democracy, and shaping the future of our nation.Guardian Media Ltd stands committed to its role and responsibility.