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e.tv’S HEAVY METTLE

The March 2004 financial results from Hosken Consolidated investments (HCI) show that e.tv has experienced a remarkable turnaround over the previous period, contributing R21-million profit to the investment company.   HCI owns 66% of the station and has invested R1-billion since inception. Although HCI are selling their 47% stake in 94.7 Highveld Stereo to Primedia for R180-million, it is unlikely that this will be ploughed back into the meida industry.   A spokesperson for HCI confirms that the group is moving into other areas to balance against the volatality of the media sector.  Advertising spend has perked up over the last 18 months, but it is anyone’s guess whether this is sustainable. HCI also has media interests in YFm and Three Blind Mice, the latter having reached breakeven this year.

Source: The Media