How will Manyi pay for The New Age and ANN7?

2017-09-27 13:16

It's no secret that all public media - unless government sponsored - has to rely primarily on advertising to pay  its bills - salaries, rentals, programming and equipment costs etc etc.

Even Multichoice with its exorbitant near R1000 per month for a premium package still needs advertising to make ends meet.

How then is Manyi going to pay for his acquisition? His loan repayments on R450 million will be about R9 million a month. Then there are all his staffing costs and the costs mentioned above.

He has consistently been massively critical of 'White Monopoly Capital' - a phrase which has now been thoroughly discredited. So I cannot see the owners of major businesses leaping to advertise in his media.

 Previously, the New Age was partly funded by 'New Age breakfasts' - pointless propaganda exercises funded by the ANC at over R1 million a pop. These, I understand have now been stopped.

Figures show that 54% of previous funding for The New Age was government advertising. The paper has a very low paid subscription rate. It has no ABC (Audit Bureau of Circulation) figure, which advertisers use in order to determine the worthwhileness of advertising in a medium.. And ANN7 has a reputation of being merely a propaganda machine for the ANC, and - let's face it - isn't a very watchable TV station.

So - to ask the question again - how is Manyi going to pay to run his acquisitions? Or will his funding come from the current R3 billion of 'Unaccounted Expenditure' of the ANC as revealed by the Auditor-General? It will be interesting to see.

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