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Primedia - Primedia concludes new round of acquisitions totaling R40 million
Primedia Limited
(Incorporated in the Republic of South Africa)
Registration number 1993/003355/06
Share code: PMA & ISIN: ZAE000035119
Share code: PMN & ISIN: ZAE000035127
Share code: PMAP & ISIN: ZAE000080529
("Primedia" or "the Company")
Primedia concludes new round of acquisitions totaling R40 million
Primedia announced today that following its recent successful placement of R150
million of perpetual preference shares, it has completed three high quality,
scalable acquisitions which will bolster existing businesses as well as further
diversify its media base. Capital arising from the successful share placement
was used to fund the purchases.
The group indicated that the following three businesses have been acquired for
approximately R40 million: Powerview (80%-owned), which is the leader in the
installation and hiring of state of the art LED screens in Africa for either
indoor or outdoor events including the Nedbank Golf Challenge and the cricket
matches at the Liberty Life Wanderers Cricket Stadium; Moving Tactics (60%-owned
and now renamed Primedia Campus Media) specializes in communicating to the
student market through strategically positioned backlit scrolling display units,
interactive call-to-action promotions as well as outdoor billboards at the
campuses of the top 30 universities and technikons in South Africa; and 365
Digital (100% owned), which is South Africa"s largest sports portal.
Commenting on these acquisitions, Primedia CEO William Kirsh said: "Each of
these acquisitions are a great strategic fit and will enhance the growth
momentum of Primedia. Powerview, which has been acquired by Primedia Sport, will
further enable MEGAPRO to boost its stadia advertising business by offering, for
the first time, digital advertising solutions, through electronic perimeter and
replay boards at all major sports stadia in South Africa. Under the Primedia
umbrella, Powerview will be the first supplier in the world to install digital
perimeter boards at rugby events. These will appear for the first at the
upcoming Springbok Internationals starting at Ellis Park this Saturday. We also
see Powerview benefiting from the 2010 FIFA World Cup at the designated soccer
stadia as well as from outdoor events at the time."
Kirsh added: "With a focus on investing into new growing sectors of the media
industry, Primedia Campus Media also fits in line with Primedia"s strategy to
offer targeted media solutions to marketers within areas of convergence, out of
the home. The campuses offer marketers a young audience, which represents the
future decision makers of this country. Leveraging on the expertise developed
through Primedia-owned Rank TV, South Africa"s only television broadcast network
in the major taxi ranks, Campus TV will shortly be launched in all key
universities and technikons."
Kirsh concluded: "365 Digital has been acquired by iafrica.com and is highly
complimentary with key synergies been identified in the areas of content
creation, content management and advertising administration. 365 Digital should
result in a more than doubling of iafrica.com"s profitability in the 2007
fiscal. We are also busy with a number of larger and equally exciting
transactions and we intend announce these either prior to or at the time of our
year end results."
Sandton
1 June 2006
Sponsor
Investec Bank Limited
Contact:
Roderick Cameron - Brunswick 082 887 4593
Date: 01/06/2006 08:14:08 AM Produced by the JSE SENS Department
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