Alec Hogg: Naspers loses interest in its loss-making legacy SA media asset

At noon today, we host Naspers Group CFO Basil Sgourdos in this week's Rational Radio webinar. To keep the numbers down we restrict the Monday webinar to Premium subscribers, which helps ensure our community members' questions get answered. Even so, as Naspers accounts for 21% of the JSE All Share index – and thus impacts all of SA's retirement savings – we're expecting a crowd, so please get your questions in early. Here's the link to register for the webinar: https://attendee.gotowebinar.com/register/6730147365502274830.Also read: Alec Hogg: SA's financial services Empire strikes back – true motive exposed.I've no doubt the BizNews community and our in-studio experts David Shapiro and Adrian Saville will have plenty of questions around the Naspers share price's deep discount to the value of its 31% ownership of Tencent. But given my interests, it won't surprise you the question I'm most interested to ask is what the Amsterdam-based top team intend doing with the global group's now relatively small and loss-making legacy SA media assets..___STEADY_PAYWALL___.For those paying attention, its long been apparent the SA media assets have become an anomoly for the group. The 56-page booklet on the Naspers interim results emphasise this – there is no mention whatsoever of the Media operation in an otherwise detailed 10-page commentary on operations. Indeed, Media's first mention comes as a listing in page 22's table on segmental sales. Almost as an afterthought, just above "Corporate"..Also read: Alec Hogg: Dirty secret behind SARB backpedal on RAs.Naspers's Media unit is a legacy from the pre-Tencent days. Although profits have steadily eroded, the unit had been financially washing its face, so although no longer core to the Naspers ambition, there seemed little urgency in addressing it. But as the Segmental Review on EBITA reflects (above), Media racked up R400m in annualised losses in the six months to end September, a swing from EBITDA profit of R230m last year. Even for a group of Naspers's size, that's material. My money is on another Multichoice-type unbundling, but this time co-inciding with a BEE transaction. Much hyped. Naturally..TO LISTEN….Latest audio on BizNews Radio.…..(click on the link to access).BizBriefing: Tito gets set to fight public servants on pay BizNews Week in Review: Zondo, Sygnia v ASISA, No confidence vote Leon Campher: Money managers didn't lobby for excon suspensionInside Covid-19: How the vaccine rollout will happen in SA Editor's Desk: Joburg's corrupt mayor exposed through dirty EOH dealsInside Investing – Wierzycka, Heystek – Lobbying killed RA breakthrough.TO WATCH…On the BizNews TV channel on Youtube….Finance Friday – investment insights home and abroadModise's Thursday webinar: Trucks, petrol bombs, inability to respondOrbvest's 30th US property now open for investment from $5 000 BizBriefing: Motion of No Confidence in RamaphosaThe BizNews Global share portfolio – November update.TODAY'S WEBINAR – .Rational Radio – Naspers Group CFO Basil Sgourdos; with David Shapiro and Adrian Saville. Register here: https://attendee.gotowebinar.com/register/6730147365502274830.DOWNLOAD THE FREE BIZNEWS.COM APPClick on the links below to download your own Biznews.com App:.Apple: https://apps.apple.com/za/app/biznews-com/id1517392839.Android: https://play.google.com/store/apps/details?id=com.goodbarber.biznews&hl=en

Alec Hogg: Naspers loses interest in its loss-making legacy SA media asset

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