South Africa's leading publishing group, Media24, has acquired 50 per
cent of local media group Democratic Media Holdings (DMH), which
publishes the Republikein and Allgemeine Zeitung daily newspapers, writes Tonderai Katswana n the Namibian.
DMH are also the owners of the newspaper printing company Newsprint Namibia.
DMH Managing Director Chrisna Greeff said after 30 years in the business, new investments – preferably foreign – had become the answer towards development.
DMH Chairman Dirk Mudge announced that the merger was in line with a vision for the company to expand into the region.
"We should not stagnate and therefore new expansions and projects are considered in an effort to play a more important role in Southern Africa.
Therefore the offer from Media24, that has spread its wings worldwide, was favourably considered by us," he said.
Media24 Executive Head Hein Brand echoed these sentiments, saying this venture was a good opportunity for the company to invest in the Namibian market.
Click here to read the full report, posted on the Namibian's website.