Naspers not in any hurry to opt out of Media24

Cape Town – Naspers [JSE:NPN] group CEO Bob van Dijk said Naspers is aware that the media space is going through changes globally, and that its investment in the sector will be in line with changes in how news is produced and consumed.

Fin24 spoke to Van Dijk on the day Naspers announced it had sold its 11.18% stake in India’s largest e-commerce marketplace Flipkart to US retail juggernaut Walmart.

Naspers made $2.2bn from the sale and its leaders have indicated that this will go a long way in bolstering its cash war chest, as Naspers continues to venture into investments in the electronic commerce arena.

Speculation was rife about Naspers’ investment in Media24, of which Fin24 is part. Naspers is building a cash war chest from selling stakes in its e-commerce assets. However, Van Dijk told Fin24 that the company is not in any hurry to opt out of its media assets.

“I would say there are two considerations. When you look at traditional print, there is a format that will gradually disappear. In news, in its broadest term there is a lot of content that is now being consumed in different ways.

“I am bullish about the online news outlook going forward. We should be alive to the new ways that news is being generated and the new ways in which people consume news,” said Van Dijk.

  • Fin24 is part of 24.com, a division of Media24, which is a subsidiary of Naspers.

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