Share

TMG owner shifts to digital

Cape Town - Tiso BlackStar Group, parent company of Times Media Group (TMG), has announced a shift in its media strategy in the face of declining print revenues.

In its 2015 unaudited interim results, the company said that, despite profitable publications, there was pressure on the bottom line.

“There are too many titles competing for declining advertising spend and unless there is a conscious effort to consolidate, there may be significant failures. Many titles in South Africa are marginal and will struggle to survive further declines without fundamental change,” the company said.

It told shareholders that it was intent on becoming a “single sector company, focused on media” resulting in some assets becoming “non-core”.

Tiso will also explore media acquisitions in South Africa, Kenya, Ghana and Nigeria, specifically broadcast businesses.

Cost cutting

“Each opportunity will be considered in terms of whether Tiso Blackstar can add value by leveraging off its existing asset base whether it meets an acceptable risk return profile, whether it has a coherent and achievable strategy, and whether the acquired opportunity can be leveraged to benefit the existing asset base,” the company said.

The company announced that its shift to digital is underway at its media publications as it embarks on cost cutting measures.

“A number of tough choices need to be made in our media division in the face of declining advertising revenues, especially from government, and in line with international trends. We are also looking at a range of new revenue streams, some of which are already delivering earnings,” the company statement read.

Tiso declared an interim dividend of 3.74 cents per ordinary share.


- Follow Duncan on Twitter

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders