Moneyweb back into TV
The Alt-X listed internet, radio and print operation has formalized a partnership with CNBC Africa, the new television channel which will be aired locally on DSTV channel 54 from June 1.
The partnership will focus on the hour long midday slot, CNBC Power Lunch with Moneyweb. Award winning broadcaster and Moneyweb’s editor-in-chief, Alec Hogg will participate daily through conducting interviews with business leaders.
CNBC Africa is controlled by Dubai-based investors. South Africa’s Industrial Development Corporation is the major minority shareholder. The promoters have considerable experience in projects of this type. They own similar CNBC-franchised operations in the Middle East and in Pakistan.
Moneyweb’s journalists will also provide support to CNBC Africa’s news gathering function.
CNBC Africa director Rakesh Wahi says: “We’re delighted to have Moneyweb on board. This channel has been two years in the planning and is the latest in a global drive to leverage the world’s best business television brand and its unbeatable content.”
Hogg says: “We have always regarded television as the obvious next step for Moneyweb. Unfortunately, after a promising start last time, we got caught up in the prime-time ratings war between SABC and eTV. Our daily contribution on eTV was cut from eight to only two minutes. It made no sense for either party to continue.
“This is a very different scenario. Partnering with a dedicated business channel opens up many opportunities to leverage the content produced by Moneyweb’s powerful editorial machine.
“In many ways, 2007 is proving to be a watershed year for us. Initiatives taken some time back are starting to bear fruit. The business is firing on all cylinders. Right now, Moneyweb has both the desire and the resources to make a serious impact in television. In CNBC Africa, we have found the perfect partner.”
The contract between Moneyweb and CNBC Africa is for an initial period of one year.
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