Untangling the Novus web
What is going on between Novus and Media24?
It’s time Media24 got used to the new environment and stopped scoring own goals
What is going on with Novus? Or, rather, what is going on between Novus and Media24? Novus, which used to be Paarl Media, was once an important part of Media24. That was when Media24 was an important part of Naspers, way back in the 1990s before DStv became the most important part, by far, of Naspers. Then, in the early part of the 21st century, its interest in the Chinese IT industry became the most important part of Naspers. DStv remained important, but print media in particular battled to deal with the changes the IT industry wreaked upon it. It’s not that Novus isn’t a substantial business in its own right — it is the largest print group in SA, with annual revenue of more than R4bn and an attractive 15.5% profit margin — it’s that Naspers has moved on to much bigger things. Frankly, most things look rather insubstantial next to China-based Tencent, which has grown at a dizzy pace since it was acquired in 2003.
But from a once-integral part of the Naspers publishing empire,...
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