| Mon 28 Aug 2006, 10:46 | | Primedia Limited - Acquisition of Warwick Sport |
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PMA PMAP PMN
PMA
Primedia Limited - Acquisition of Warwick Sport
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 moves towards becoming corporate South Africa"s preferred partner
for the 2010 FIFA World
Primedia Sport, a division of Primedia Limited (Primedia) today announced
that it had acquired a 70% shareholding in Warwick Sport and Media (WSM),
one of South Africa"s leading corporate hospitality and event management
companies. WSM specialises in corporate hospitality, event management,
sponsorship procurement and leverage and sports tours.
Commenting on recent Primedia Sport transactions, Primedia CEO William
Kirsh said: "In line with Primedia"s strategic priority of unlocking the
value of the group"s sport assets, Primedia Sport has identified WSM as an
attractive acquisition target in order to enhance MEGAPRO"s scalability in
corporate hospitality. Our recent acquisition of Powerview, which is the
leader in the installation and hiring of state of the art LED screens in
Africa, is also a great strategic fit, further enabling MEGAPRO to boost
its stadia advertising business. These two earnings enhancing acquisitions
should significantly boost the income of our sports division by at least
50% in 2007, thereby adding further momentum to Primedia"s growth."
The successful integration of WSM and Powerview into Megapro"s businesses
will allow Primedia Sport to offer its clients a combination of strategic
corporate hospitality and event management solutions, the management and
execution of sponsorships and events and digital advertising solutions,
through electronic perimeter and replay boards at all major sports stadia
in South Africa.
George Rautenbach, CEO of Primedia Sport commented: "Primedia Sport has
identified WSM"s strong brand, excellent management team and dedicated
staff as the ideal partner for MEGAPRO and will allow it to make inroads
with all sponsors and suppliers that will be involved in FIFA Soccer World
Cup 2010. Upcoming sports tours and events that WSM and MEGAPRO are also
involved in include the 2007 Cricket World Cup, the SA tour by the British
Lions and the 2009 Confederations Cup, a dress rehearsal for 2010."
Notes to Editors:
WSM operates corporate hospitality and event management from venue sourcing
to catering and security for rugby, soccer, cricket, golf, MotoGP, Formula
1, horse racing, polo, theatre and cultural events. WSM is also capable of
integrating all aspects of sponsorship and event management to deliver
maximum impact, including sponsorship broking, production and staging of
events and sponsorship impact assessment. In addition, WSM is also active
in the area of sports tours, it is able to arrange tours to the following
events: Springbok rugby tours, Hong Kong Sevens, European football, Grand
Prix, Rugby World Cup, Cricket World Cup and Soccer World Cup.
Sandton
28 August 2006
Sponsor
Investec Bank Limited
Enquiries:
Primedia 011 506 3153
Megapro 011 305 9800
Brunswick 011 268 5750
Date: 28/08/2006 10:46:03 AM Produced by the JSE SENS Department
