Investment - In Brief

Investment

- Times Media Group has acquired more than one-third of a Ghanaian broadcaster for almost $15.2 million (South African R150m), a deal that will widen the firm's broadcast footprint and expose it to high growth markets in West Africa. The Multi Media Group currently operates Joy FM, Adom FM, Asempa FM, Luv FM and Hitz FM as well as Multi TV and Myjoyonline.com.
The deal would see Times Media take up about 33 percent in Multimedia. The South African Media giant operates a TV channel, Business Day, Newspapers, Financial Mail and Sunday Times and is listed on the Johannesburg Stock Exchange.

- Producers of the 12-minute film titled “Freestate” are seeking to raise money to turn it into a feature film which they say will match international standards. “Freestate”, which was the opener for this year’s International Images Film Festival for Women, is set to be screened today at the Alliance Française Old Mutual Theatre starting at 5.30pm. Full story here:

- Nigeria advertising industry spend on Above-the-Line Advertising activities dropped by 10.6 per cent to N91.846 billion in 2012 as against N102.755 billion in 2011. The decrease was due to reduced media investment of 43.9 per cent on outdoor advertising and 41.7 per cent on press while media investment on TV and radio grew by 7.2 per cent and 20.1 per cent respectively.