INTERIM RESULTS
Media group Tiso Blackstar plans special payout
CEO Andrew Bonamour says flagship titles Sunday Times and Business Day bucked the trend ahead of competitors
Media group Tiso Blackstar, BusinessLIVE owner and publisher of Business Day, will pay a special dividend of R40m after it closes the sale of its 22.9% interest in Kagiso Tiso Holdings. The R1.5bn deal is part of Tiso Blackstar’s sale of noncore assets and is expected to be closed in May. Tiso Blackstar reported improved performance for the half-year to December, lifting earnings before interest, tax, depreciation and amortisation (ebitda) to R269.5m, from R248.5m. The traditional media business, made up of newspapers, magazines, digital and distribution operations, grew ebitda 16.7% to R86.9m. Cost reduction and the introduction of new revenue streams helped drive substantial growth in earnings in flagship titles such as Sunday Times and Business Day. CEO Andrew Bonamour said these titles bucked the trend ahead of competitors. During the six months to December, Tiso Blackstar launched a central business news website and in February, introduced a paywall, which has attracted more t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.