Business Day editor steps down to focus on TV

·27 Mar 2014

Business Day editor Peter Bruce has announced he will step down from the position, relinquishing the role to senior associate editor, Songezo Zibi.

Bruce will remain editor-in-chief of Business Day and Financial Mail, the paper said, and will extend his focus to Business Day TV.

According to BDLive, Zibi will take up the position from 1 May 2014.

Times Media Group (TMG), owner of BDFM and its media channels, has tightened its business focus through the disposal of non-core assets and a strong focus on broadcast.

TMG CEO Andrew Bonamour previously stated intent to build the company into a pan-African media house focused on content, radio, TV, digital and newspapers.

In August, TMG sold its investment and market data business, I-Net Bridge to Naspers-owned McGregor Bureau for Financial Analysis (BFA) for R115 million.

It also sold Exclusive Books and The Van Schaik Group of Companies for R435 million.

This was followed by the disposal of Nu Metro Cinema and Popcorn Advertising in January 2014.

In terms of acquisitions, in December 2013, the group acquired a 65% interest in Mpower FM Radio, a commercial radio broadcaster based in Nelspruit, as well as a 60% interest in KwaZulu-Natal gospel radio station Vuma FM in early 2014.

“Both Zibi and Bruce possess fervour for Business Day that creates a natural opportunity to share content successfully across our online and broadcast assets,” Bonamour said.

“It really aligns with Times Media Group’s diversification of delivery platforms and adds value to our expansion as a media group into Africa.”