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South Africa: Silence Will Be Costly for Moneyweb
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Business Day (Johannesburg)
COLUMN
26 March 2008
Posted to the web 26 March 2008
Johannesburg
ONCE again Moneyweb, the online business news service, is going to lose its evening radio spot. Moneyweb used to broadcast on Classic FM, but there was a falling out and Moneyweb stomped out.
After a brief stint at a community radio station, the show landed up at Radio 2000.
The talk around town was that the show lost a number of listeners and advertisers, what with all the moving. Now, according to a statement, Moneyweb's contract with Radio 2000 has not been renewed. This is apparently because the station wants to reposition itself ahead of 2010 World Cup.
But that seems a bit odd. How much repositioning does a station have to do more than two years ahead of the big event? And soccer cannot take up every minute of broadcasting -- with financial literacy in mind many of SA's stations are trying to beef up their business news rather than cut it back.
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One has to wonder if egos got in the way again rather than this "repositioning". The change might also spell disaster for Moneyweb's financials, given this is not an overly profitable company and it will be off the air for at least a month.
Moneyweb listed during the tech boom of the late 90s. Most of its peers have crumbled. That it has survived is commendable, but this latest news is yet another indication that it should have never listed in the first place.
The Bottom Line is Edited By Edward West
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