Media24 and DMH tie knot

SOUTH Africa’s leading publishing group, Media24, has acquired 50 per cent of local media group Democratic Media Holdings (DMH), which publishes the Republikein and Allgemeine Zeitung daily newspapers.

DMH are also the owners of the newspaper printing company Newsprint Namibia. DMH Managing Director Chrisna Greeff said after 30 years in the business, new investments – preferably foreign – had become the answer towards development.DMH Chairman Dirk Mudge announced that the merger was in line with a vision for the company to expand into the region.”We should not stagnate and therefore new expansions and projects are considered in an effort to play a more important role in Southern Africa.Therefore the offer from Media24, that has spread its wings worldwide, was favourably considered by us,” he said.Media24 Executive Head Hein Brand echoed these sentiments, saying this venture was a good opportunity for the company to invest in the Namibian market.Wholly-owned by media group Naspers, Media24’s operations include newspapers, magazines, Internet ventures, distribution companies, printing works, books and private education.A few of the many prominent names under its stable are News24, Sunday Sun, City Press, Beeld, Die Burger, Rapport, Fair Lady, Drum, You and Sports Illustrated.According to a source working in the Company Registrations Department in the Ministry of Trade and Industry, although the Government would prefer local partners to have a majority shareholding in a local company, it was still within the legal requirement to have a 50-50 joint venture.DMH Managing Director Chrisna Greeff said after 30 years in the business, new investments – preferably foreign – had become the answer towards development.DMH Chairman Dirk Mudge announced that the merger was in line with a vision for the company to expand into the region.”We should not stagnate and therefore new expansions and projects are considered in an effort to play a more important role in Southern Africa.Therefore the offer from Media24, that has spread its wings worldwide, was favourably considered by us,” he said.Media24 Executive Head Hein Brand echoed these sentiments, saying this venture was a good opportunity for the company to invest in the Namibian market.Wholly-owned by media group Naspers, Media24’s operations include newspapers, magazines, Internet ventures, distribution companies, printing works, books and private education.A few of the many prominent names under its stable are News24, Sunday Sun, City Press, Beeld, Die Burger, Rapport, Fair Lady, Drum, You and Sports Illustrated. According to a source working in the Company Registrations Department in the Ministry of Trade and Industry, although the Government would prefer local partners to have a majority shareholding in a local company, it was still within the legal requirement to have a 50-50 joint venture.