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Moneyweb Holdings Limited - Moneyweb Partners With The Citizen (Pty) Limited
MONEYWEB HOLDINGS LIMITED
(Registration No:1998/025067/06)
Share code:MNY ISIN code:ZAE000025409
("Moneyweb")
MONEYWEB PARTNERS WITH THE CITIZEN 1978 (PTY)LIMITED ("THE CITIZEN")
Listed independent business media company Moneyweb Holdings Limited has
established a partnership with The Citizen newspaper. From March 31, Moneyweb
will produce a daily business news section for the 100 000 circulation national
daily newspaper.
Moneyweb chief executive Edwin Jay says: "Securing a major daily newspaper is
the final piece in our quest to secure strategic partnerships across the major
media platforms. The Citizen deal is a partnership similar to what we have in
place with eTV on television; Classic FM on radio; and Ince in our weekly
Moneyweb Digest. In all cases, Moneyweb participates in the upside."
Says Jay: "Through Moneyweb.co.za and Mineweb.com, our business dominates its
space on the Internet. Our newsletters Personal Finance and Tax Breaks are the
leaders in that market. With partnerships like the one secured today with The
Citizen we have channels through which to reach pretty much anyone with any
interest in business and investment information."
Moneyweb"s team of 20 financial journalists are housed mainly in its
Johannesburg headquarters, but include staffers based in New York; London;
Perth; Vancouver and Cape Town. They will produce at least four pages of
business and investment news daily for The Citizen from Monday through to
Saturday. Growth of the new section, called Citizen Business powered by
Moneyweb, will depend entirely on advertising support.
Says Jay: "We are confident that the unbiased, understandable content which is
Moneyweb"s hallmark will attract high readership. Together with The Citizen"s
high market share and extremely competitive advertising rates, the section will
become irresistible for companies wanting to reach Moneyweb"s target market, the
intelligent layman who is interested in growing his wealth."
Jay says it is impossible to quantify the immediate financial impact of the
deal, but is confident that as with eTV, the medium-term benefits are
potentially enormous. A similar relationship with Classic FM (of which Moneyweb
owns 19.6%) helped turn that station into a significant profit generator within
two years. Jay notes: "Because of the sheer numbers involved, and as we are
leveraging off an established base, the partnerships with eTV and The Citizen
have the potential to make a far bigger impact on our bottom line than the
highly successful relationship with Classic FM."
For Moneyweb founder and editor-in-chief Alec Hogg (43), the company"s
partnership with The Citizen takes his career full circle. Hogg"s career in
journalism began when he joined The Citizen as a trainee financial reporter in
January 1980.
Hogg is to resuscitate his popular Boardroom Talk column which will appear in
The Citizen on Tuesdays. Other columnists will include Moneyweb"s New York
correspondent Tim Wood; Mining editor David McKay; former Cape Times editor
Ryland Fisher and acclaimed business satirist Jamie Carr.
For more information contact:
Edwin Jay, Moneyweb Holdings Limited:(011)327-1277 or 083-635-3546
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