| Tue 25 Mar 2008, 16:19 | | MNY - Moneyweb - Announcement: Moneyweb power hour takes a break |
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MNY - Moneyweb - Announcement: Moneyweb power hour takes a break
MONEYWEB HOLDINGS LIMITED
(Registration No:1998/025067/06)
Share code: MNY & ISIN: ZAE000025409
("Moneyweb" or "the Company")
Announcement: Moneyweb Power Hour takes a break
Award winning business radio programme, the Moneyweb Power Hour, will be taking
a break during April. Its annual contract with host broadcaster Radio 2000,
which expires at the end of March, has not been renewed.
This follows a decision at Radio 2000, a public service station owned by the SA
Broadcasting Corporation, to be re-positioned ahead of the 2010 FIFA World Cup.
The station will in future focus on the youth market and on local music.
Moneyweb is in negotiations with other SABC-owned channels and hopes to have the
programme back on the national airwaves in May.
The Moneyweb Power Hour has been broadcast every week night on Radio 2000 for
the past four years. The programme pioneered business radio in SA in 1997 and in
all but one year since inception has been adjudged the country`s top business
show in this highly competitive segment of the market.
Moneyweb CEO Alec Hogg, who hosts the Power Hour, says: "We`ve had a good run
with Radio 2000, steadily growing the audience and as the station`s biggest
client, assisting it to grow from a staff of two to over 20.
"We will miss the daily interaction with our community through Radio 2000. The
decision not to renew Moneyweb`s contract has no bearing on our other
relationship with the national broadcaster, the successful partnership with RSG
se Geldsake met Moneyweb."
Hogg, who has presented the programme virtually uninterrupted for the past 10
years, said he would be productively using his month away from the microphone:
"It is an opportunity to take a mini-sabbatical. Among other things, I`m hoping
to produce an update of my book Shares: A Buyer`s Guide. Much has happened since
it was published in 2005.
"It has been a pleasure dealing with Radio 2000 over these past four years and
we are pleased to have helped the station develop. We`re disappointed the
relationship has ended, but realise our audience could not be accommodated in
the broader repositioning of the station," Hogg added.
Moneyweb is the country`s leading independent provider of investment and
business news through www.moneyweb.co.za and numerous affiliated websites. It
has local partnerships with RSG; The Citizen; Weekend Witness; CNBC Africa and
internationally with the Wall Street Journal and InfoMine. Moneyweb is a BEE-
empowered, publicly-owned company whose shares are listed on the JSE Limited.
For more information please contact:
Alec Hogg, CEO, Moneyweb, 011 327 1277
Rosebank, Johannesburg
25 March 2008
Designated advisor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 25/03/2008 16:19:57 Produced by the JSE SENS Department.
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