Given Mkhari, chairman of the new radio station Power FM. File photo: Bongiwe Mchunu

 Johannesburg - Given Mkhari, head of radio station PowerFM, has denied reports that the station is experiencing financial problems and has been put up for sale, the Sunday Times reported.

“It's absolute bulls**t. We are not for sale,” he told the newspaper.

Mkhari said that reports of financial woes and of talks to sell the commercial station were a result of malicious gossip.

“It's understandable that if you're punching above your weight, some people are not going to take it lying down.”

Power FM was launched in June 2013, funded by the National Empowerment Fund.

The Sunday Times reported that National Empowerment fund spokesman Moemise Motsepe had said that the radio station had not defaulted on funding obligations for the financial year ending February 2014.

“Power FM was a model investment that was doing well,” said Motsepe. - Sapa