{"id":35738,"date":"2013-04-15T09:41:06","date_gmt":"2013-04-15T07:41:06","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=35738"},"modified":"2013-04-15T10:06:56","modified_gmt":"2013-04-15T08:06:56","slug":"times-media-confirms-bdfm-takeover","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/media\/35738\/times-media-confirms-bdfm-takeover\/","title":{"rendered":"Times Media confirms BDFM takeover"},"content":{"rendered":"

Times Media Group (TMG<\/a>) has confirmed that its subsidiary,\u00a0Avusa Publishing Proprietary, has agreed to acquire the remaining shares of\u00a0BDFM<\/a> from UK business\u00a0Pearson Overseas Holdings.<\/p>\n

BDFM publishes business titles including Business Day, Financial Mail and is the parent company of Summit TV.<\/p>\n

Avusa<\/a> will acquire Pearson’s 50% shareholding in\u00a0BDFM Publishers and become the sole shareholder.<\/p>\n

“Newspapers and the entire news industry are undergoing fundamental\u00a0structural change, requiring new investment, new ways of doing\u00a0business and often difficult decisions,” TMG said by way of rationale for the purchase.<\/p>\n

“The full acquisition of BDFM by TMG will allow for economies of\u00a0scale, an integrated operations platform and operational synergies,\u00a0and will permit BDFM, under unified ownership, to accelerate its\u00a0digital transformation,” it said.<\/p>\n

TMG says it believes it can further\u00a0develop and enhance the current BDFM television offering which it\u00a0believes could be a growth area.<\/p>\n

BDFM owns 100% of African Broadcasting Channel\u00a0which broadcasts Summit, Home Channel, Ignition and Saffron channels\u00a0on DSTV in Southern Africa.<\/p>\n

According to TMG, BDFM will continue to have an ongoing relationship with the Financial
\nTimes Limited (FT) through a content syndication agreement, and a\u00a0programme through which BDFM journalists benefit from training\u00a0placements at the FT.<\/p>\n

The board of directors of\u00a0BDFM will establish an Independent Committee to provide input regarding the appointment and dismissal\u00a0of editors from time to time of the titles Business Day and\u00a0Financial Mail, and any other standalone daily or weekly titles\u00a0published by BDFM.<\/p>\n

More on BDFM and TMG<\/h3>\n

Times Media, BDFM in takeover talks<\/strong><\/a><\/p>\n

Afrikaans news websites go paywall<\/a><\/strong><\/p>\n

Times Media to offload Exclusive Books<\/a><\/strong><\/p>\n

Times Media expects flat earnings<\/a><\/strong><\/p>\n

What mobility means for SA media<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Times Media Group says it has agreed to acquire the remaining shares of Business Day publisher, BDFM.<\/p>\n","protected":false},"author":9,"featured_media":35764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5554],"tags":[4708,4621,4619,26,5602,5046,3741],"class_list":["post-35738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-bdfm","tag-business-day","tag-financial-mail","tag-headline","tag-pearson","tag-summit-tv","tag-times-media-group"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/35738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=35738"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/35738\/revisions"}],"predecessor-version":[{"id":35762,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/35738\/revisions\/35762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/35764"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=35738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=35738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=35738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}