Moneyweb Partners With E.TV
MONEYWEB HOLDINGS LIMITED
(Registration No:1998/025067/06)
Share code:MNY ISIN code:ZA-E000025409
MONEYWEB PARTNERS WITH E.TV
INDEPENDENT FINANCIAL MEDIA BUSINESS, Moneyweb Holdings is to provide business
news for e.tv, South Africa`s only commercial free-to-air television
broadcaster.
The service will be spearheaded by Moneyweb`s Alec Hogg who becomes e.tv`s
Business Editor.
Moneyweb Holdings CEO, Edwin Jay says: "This is a major development for Moneyweb
which is already South Africa`s dominant provider of business and investment
information on radio and the Internet.
"The initial contract is two-years and we are confident that our partnership
with e.tv will achieve leadership in business news on television."
A former lawyer, Jay took over as Moneyweb`s chief executive officer in January
after serving on the company`s board for two years as a non-executive director.
He runs the business side of Moneyweb which frees founder and former CEO Hogg to
focus on the content offerings of the converged financial media business.
Moneyweb already serves its community through the Internet, radio, a weekly
newspaper and financial newsletters.
Apart from driving the television broadcasting, Hogg will continue to present
his award winning radio programme Classic Business. While he will be the new
face of e.business programming, Hogg will draw heavily on the skills of
Moneyweb`s team of 17 financial journalists, many of them award winners in their
own right.
Jay says with the added responsibility of television, this deal confirms Alec`s
move from running the business to being involved full-time with his passion of
financial journalism.
"Many will remember Alec as Economics Editor of SABC TV in 1992 and 1993, so
television is not new to him. In addition, we`ve secured the services of a
former colleague of his from those times, Cal Kennedy, as executive producer for
television programming."
From mid-March, e.business will be screened week-nights as a six minute segment
in e.tv`s primetime 7pm news bulletin. Meanwhile Hogg will anchor e.tv`s 2003
Budget Special next Wednesday (February 26) . The Budget Special airs between
1pm and 4pm and will include the live broadcast of Finance Minister Trevor
Manuel`s speech, plus easy to understand previews and reviews by Hogg and his
studio guests.
While there will be no immediate impact on Moneyweb`s profitability in the 2003
financial year to end-March, Jay is confident the move into television will
contribute strongly to profitability in the years ahead.
"The deal ensures we participate in the upside. Also, later this year it is
expected that the offering will be significantly expanded, ensuring that e.tv
becomes South Africa`s dominant source of business news on television." Jay
concludes.
For further information please contact:
Edwin Jay, CEO Moneyweb Holdings, 083 635 3546
Quraysh Patel, Channel Director e.tv, 083 419 5006
Date: 18/02/2003 02:38:13 PM Supplied by www.sharenet.co.za
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