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Moneyweb buys into Editors Inc
The latest acquisition by Moneyweb is a 50% stake in Editors Inc, whose core business is the publication of South Africa at a Glance. The AltX-listed business and financial media company made the announcement yesterday, Wednesday, 2 April 2008.
Commented Moneyweb CEO Alec Hogg, “It is exciting to have Richard Steyn and George Trail as partners within the Moneyweb family. There is a lot we can do together with the successful product which Editors Inc has created and developed. Apart from the obvious online opportunities, there are potential applications of the At A Glance concept for other African countries.”
The annual South Africa at a Glance, now in its 14th edition, is a respected and popular business guide for prospective investors and business travellers. The reliable aid enjoys an annual circulation of 40 000 and regularly attracts the country's most successful corporations and investment agencies as advertisers and clients.
Reaches a global market
The publication reaches a global market of senior business and government decision-makers. The Department of Trade and Industry uses bulk copies for its overseas offices and international trade pavilions. South African Airways carries the pocket guide in the business class section on all international flights. The book is sold in leading bookstores and is purchased in quantity by foreign embassies, trade offices and major corporations.
The 2007/8 edition of South Africa at a Glance was translated into Chinese for the first time.
Said Editors Inc chairman George Trail, “From our point of view, this is a perfect marriage. South Africa at a Glance and its peripheral publications are proven and trusted products, which we believe will enrich Moneyweb's impressive media mix. At the same time, Moneyweb's market reach and existing media platforms should substantially strengthen the marketing of South Africa at a Glance and its Corporate Logo edition, and enhance considerably our advertising base.”
The transaction, effective from 1 October 2007, will be included in the group's financial results for the year to end March 2008.
Editors Inc was established in 1995 by three former South Africa newspaper editors, a retired US Ambassador and a newspaper research specialist. That same year, the first edition of South Africa at a Glance was published. For more information, go to www.southafricaataglance.com.
