Wednesday, June 29, 2005
Ireland's Independent News & Media invests in South African tabloids
As huge amounts of money is poured into Indian media by various companies (see posting), the Irish Independent News & Media group has shown how investing in developing economies can pay off. Primarily known for it's UK and Irish daily, The Independent, the Ireland's premier newspaper group has reported that it makes 13% of its revenue through its publications in South Africa. Now, the group has plans to increase it's sales in Africa's most well off nation by 16%. Head of the group's South African division, Tony Howard, talked of broadening its readership saying, "There is a strong possibility we will launch more African language titles and we want to expand our tabloid, Daily Voice." Howard commented that he is looking to publish in other African markets as well, primarily Nigeria, "because it is obviously a huge market and because we are also looking at outdoor advertising there."
Source: The Namibian
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