Tough second half for Tiso Blackstar media business
Company says it has prioritised cost management and disposal of noncore assets
Tiso Blackstar Group warned on Wednesday that it expects a tough second half for its media business, with political uncertainty in the run-up to the elections and rising newsprint costs expected to weigh on performance. The publisher of Business Day, Sunday Times, Sowetan, TimesLIVE and Financial Mail said the media unit faced rising input costs such as newsprint, “but prudent cost management and growth in new revenues such as digital and eventing will diversify revenue”.
CEO Andrew Bonamour said tough economic conditions, characterised by low growth, and rising input costs “have forced a continued review of costs across the [media] division”.