| Fri 23 Feb 2007, 12:44 | | PMA/PMN/PMAP - Primedia - Partners in ground break |
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PMA PMAP PMN
PMA
PMA/PMN/PMAP - Primedia - Partners in ground breaking radio station in the
Middle East
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 partners in ground breaking radio station in the Middle East
Primedia is proud to announce that it is a 24,9% shareholder in Ramallah-based
93.6 RAM FM, which was successfully launched out of studios in Ramallah and
Jerusalem yesterday, 22 February 2007. RAM FM`s successful launch was
reported by global media including CNN.
The radio station, which has been conceptualized by Issie Kirsh, founder of 702
Talk Radio, has been in development for over three years and has secured
the support from both Israeli and Palestinian stakeholders. RAM FM`s format
has been based on 702 Talk Radio. 702`s format, set the pace for public
debate on air during the volatile decade leading up to South Africa`s 1994
democratic elections. RAM FM will be broadcasting 24 hours a day in English
to audiences across Israel and Palestine, with the intention of
facilitating peace in the Middle East, in a similar way to which 702
enabled a peaceful democratic transition in South Africa.
Issie Kirsh, who is also a shareholder in the venture and a director and joint
controlling shareholder of Primedia said:" Based on my experience with 702,
I strongly believe that this station can make a difference in the region.
It is however a venture based on sound commercial grounds. We believe that
with approximately 500 000 English speaking Israeli`s and Palestinian`s in
our coverage area (from Ramallah to Gaza and the West Bank, East and West
Jerusalem and Tel Aviv) combined with the world class programming that we
intend to produce, this station should be sought after by local and global
advertisers."
William Kirsh, Primedia CEO said: "Although Primedia`s strategy is not focused
on investing beyond the borders of Africa, given the opportunity to make a
difference to the Israeli Palestinian situation and the potential financial
benefit from a medium that we are extremely comfortable with, we have
decided to back this venture. My father, also has years of experience in
operating radio in the region, which also made us extremely comfortable
with the venture."
Primedia`s stake in RAM FM will be held through Primedia Broadcasting and
Chairman Dan Moyane said: "We look forward to working with RAM FM, and
sharing our expertise in helping develop the station. We are also so proud
that legendary 702 radio personality John Berks, will be the anchor morning
show host, and 702 stalwarts Andrew Bolton and Mark Klusener have been able
to leverage their talents beyond the borders of South Africa. Their news
programming Middle East Eye Witness News has also been cloned from our
highly credible 702 Eye Witness News. As it commences to syndicate its
programming around the world, we look forward to carry exclusive RAM FM
programming on our radio stations,"
93.6 RAM FM is licenced by the Palestinian Authority, with digital studios in
Ramallah and Jerusalem. The opening three months will establish the
station`s presenters, its international music playlist and independent news
bulletins in the commercial radio market.
Sandton
23 February 2007
Sponsor
Investec Bank Limited
Date: 23/02/2007 12:44:01 Produced by the JSE SENS Department.
