Kagiso Media

{{Short description|South African media group}}

{{Use dmy dates|date=September 2023}}

{{Infobox company

| name = Kagiso Media

| logo =

| type = Private

| genre =

| foundation = 1997

| founder = Kagiso Trust Investments

| location_city = Sandton, Johannesburg

| revenue =

| location_country = South Africa

| key_people = Frank Chikane (Chair)
Paballo Makosholo (CEO)

| industry = Broadcasting, Television

| owner = Kagiso Tiso Holdings

| homepage = {{URL|http://kagisomedia.co.za/}}

}}

Kagiso Media is the largest black-owned media corporation{{cite web|url=http://www.dmma.co.za/member/kagiso-media-limited/ |title=Kagiso Media Limited |publisher=DMMA |date=2012-04-20 |access-date=2012-04-24}} in South Africa. It was formed in 1997 by Kagiso Trust Investments.

History

Kagiso Media was listed on the JSE in 1997.{{Cite web |date=15 September 2000 |title=Kagiso media returns surplus to shareholders |url=https://www.iol.co.za/business-report/companies/kagiso-media-returns-surplus-to-shareholders-782706 |access-date=28 September 2023 |website=IOL}}

In 1999, Kagiso acquired a 42.5% investment in radio station Jacaranda 94.2.{{Cite web |date=4 November 1999 |title=Kagiso to enhance performance |url=https://www.iol.co.za/business-report/companies/kagiso-to-enhance-performance-790159 |access-date=28 September 2023 |website=IOL}} It had a 91% stake in East Coast Radio and 24% stake in OFM that year and a stake in Caxton publishing.

By 2000 it owned Radmark, a radio advertising company, Butterworths, a publishing business, and exhibition businesses, Saitex, Auto Africa and the Rand Show.

In November 2000, a deal was proposed to merge Kasigo with Primedia which would give it 40% stake.{{Cite web |date=21 November 2000 |title=Active Value queries Primedia merger |url=https://www.iol.co.za/business-report/companies/active-value-queries-primedia-merger-784646 |access-date=28 September 2023 |website=IOL}} The deal required approval from the Independent Communications Authority of South Africa (Icasa) as the two groups owned radio stations that would place them in ownership of more than what was allowed by the regulatory authorities.{{Cite web |date=15 February 2001 |title=Primedia hopes to close Kagiso deal soon |url=https://www.iol.co.za/business-report/companies/primedia-hopes-to-close-kagiso-deal-soon-786392 |access-date=28 September 2023 |website=IOL}} The merger fell apart in March 2001 after Primedia failed to dispose of its noncore assets and Kasigo step away from the deal.{{Cite web |date=15 March 2001 |title=Kagiso still in search of a merger deal |url=https://www.iol.co.za/business-report/companies/kagiso-still-in-search-of-a-merger-deal-787184 |access-date=28 September 2023 |website=IOL}}

Another attempt was made in May 2001 by New Africa Investments Limited when it announced a proposed takeover of Kasigo Media's business operations and assets.{{Cite web |date=17 July 2001 |title=Nail moves step closer to acquiring Kagiso Media |url=https://www.iol.co.za/business-report/companies/nail-moves-step-closer-to-acquiring-kagiso-media-776218 |access-date=28 September 2023 |website=IOL}} Primedia issued an objection to the Icasa concerning the New Africa Investments Limited acquisition of Kagiso Media.{{Cite web |date=18 November 2001 |title=William Kirsh, stop whining to Icasa - the MIC's stake doesn't make you empowered |url=https://www.iol.co.za/business-report/opinion/william-kirsh-stop-whining-to-icasa-the-mics-stake-doesnt-make-you-empowered-788261 |access-date=28 September 2023 |website=IOL}} In January 2002, Icasa blocked the takeover based on ownership rules.{{Cite web |date=3 January 2002 |title=Broadcast watchdog blocks R372m merger |url=https://www.iol.co.za/news/south-africa/broadcast-watchdog-blocks-r372m-merger-79915 |access-date=28 September 2023 |website=IOL}}

Kagiso, part of a consortium called Johnnic Communication (Johncom), made a conditional bid for the assets of New Africa Investments in September 2003.{{Cite web |date=11 September 2003 |title=Strange twist in bidding war for Nail |url=https://www.iol.co.za/business-report/economy/strange-twist-in-bidding-war-for-nail-772780 |access-date=30 September 2023 |website=IOL.com}} In late September, their conditional bid was accepted by the Nail board.{{Cite web |date=23 September 2023 |title=Nail accepts R1.3bn bid from Johncom camp |url=https://www.iol.co.za/business-report/economy/nail-accepts-r13bn-bid-from-johncom-camp-773235 |access-date=30 September 2023 |website=IOL.com}} But by early October, the Tiso Capital consortium outbid the Johncom offer.{{Cite web |date=7 October 2003 |title=Johncom cries foul over Tiso's unconditional offer |url=https://www.iol.co.za/business-report/companies/johncom-cries-foul-over-tisos-unconditional-offer-773684 |access-date=30 September 2023 |website=IOL.com}} Competition Commission approved the Tiso bid in January 2004 but recommended that Nial's radio assets be sold.{{Cite web |date=7 January 2004 |title=Tiso-led consortium gets conditional nod |url=https://www.iol.co.za/business-report/economy/tiso-led-consortium-gets-conditional-nod-762773 |access-date=30 September 2023 |website=IOL.com}}

In 2005, Kagiso increased its stakes in radio station Jacaranda and radio advertising firm Radmark.{{Cite web |date=22 February 2005 |title=Kagiso to distribute R55m as it runs out of new buys |url=https://www.iol.co.za/business-report/companies/kagiso-to-distribute-r55m-as-it-runs-out-of-new-buys-749212 |access-date=30 September 2023 |website=IOL.com}}

In 2006, Kagiso increase it portfolio of radio stations when it purchased P4 and rebranded it as Gagasi 99.5 FM.{{Cite web |date=13 March 2006 |title=Soundtrack for the youth |url=https://www.iol.co.za/news/south-africa/soundtrack-for-the-youth-269264 |access-date=30 September 2023 |website=IOL.com}} As well in 2006, Kagiso purchased a further stake in Jacaranda Radio bring its ownership to 80 percent.{{Cite web |date=20 June 2006 |title=Kagiso acquisition nets 20% more of Jacaranda |url=https://www.iol.co.za/business-report/companies/kagiso-acquisition-nets-20-more-of-jacaranda-734230 |access-date=30 September 2023 |website=IOL.com}} Later that year in September 2006, a leadership change occurred when CEO Roger Jardine became an executive director and Murphy Morobe was appointed Kagiso's new CEO.{{Cite web |date=4 September 2006 |title=Morobe seeks greener pastures |url=https://www.iol.co.za/news/south-africa/morobe-seeks-greener-pastures-292228 |access-date=30 September 2023 |website=IOL.com}}

May 2007, saw Kagiso purchase a 50.1 percent stake in Clear Channel Merafe, an outside advertising company and would be renamed Kagiso Outdoor.{{Cite web |date=17 May 2007 |title=Kagiso buys 50.1% in advert group |url=https://www.iol.co.za/business-report/companies/kagiso-buys-501-in-advert-group-730367 |access-date=30 September 2023 |website=IOL.com}} But sold it 2008. At the end of 2007, Kagiso Media owned 80 percent of the Jacaranda radio station, 100 percent of East Coast Radio and 24.9 percent stake in OFM.{{Cite web |date=26 September 2007 |title=Strong showing from radio stations lifts Kagiso Media |url=https://www.iol.co.za/business-report/companies/strong-showing-from-radio-stations-lifts-kagiso-media-719853 |access-date=30 September 2023 |website=IOL.com}} Other radio stations in its portfolio included a 33.3 percent each in Heart FM and iGagasi FM and a 25.1 percent stake in Kaya FM.

In January 2008, Kagiso Exhibitions & Events was put up for sale after the sale of the Rand Show event back to the Johannesburg Expo Centre.{{Cite web |date=20 January 2009 |title=Kagiso in talks to dispose of exhibitions unit assets |url=https://www.iol.co.za/business-report/economy/kagiso-in-talks-to-dispose-of-exhibitions-unit-assets-701163 |access-date=30 September 2023 |website=IOL}} Its sale was finalised in 2009.{{Cite web |date=24 September 2009 |title=Kagiso Media eyes the outdoors |url=https://www.iol.co.za/business-report/companies/kagiso-media-eyes-the-outdoors-707515 |access-date=30 September 2023 |website=IOL}}

Other acquisitions in 2008 by Kagiso included Acceleration Media, an electronic media planning and strategy agency.{{Cite web |date=26 February 2008 |title=Kagiso surfs the online market |url=https://www.iol.co.za/business-report/companies/kagiso-surfs-the-online-market-829964 |access-date=30 September 2023 |website=IOL.com}} In an overseas venture outside of Africa, it partnered with Primetime International in India in 2008 to form RadioMinds.{{Cite web |date=23 September 2008 |title=Kagiso drops outdoor ads venture |url=https://www.iol.co.za/business-report/economy/kagiso-drops-outdoor-ads-venture-713591 |access-date=30 September 2023 |website=IOL.com}} Further acquisition purchases by Kagiso in 2008 saw the purchase of a 50 percent stake in Mobil Alliance whose interests are sport sponsorship and digital technology advertising. and a controlling interest in Urban Brew, company involved in television production. On 29 October 2008, the Competition Tribunal issued a Merger Clearance Certificate approving the merger between Kagiso Media Ltd and Urban Brews Studios (Pty) Ltd unconditionally.{{citation needed|date=July 2022}}

In December 2010, Kasigo's holding company, Kagiso Trust Investments and the Tiso Group amalgamated to form Kagiso Tiso Holdings.{{Cite web |title=KTI, Tiso in ‘landmark’ deal |url=https://www.iol.co.za/business-report/economy/kti-tiso-in-landmark-deal-999734 |access-date=30 September 2023 |website=IOL}}

Kagiso announced in October 2011 that it would sell its 50 percent interest in the LexisNexis to Reed Elsevier South Africa.{{Cite web |date=4 October 2011 |title=Kagiso to sell stake in LexisNexis |url=https://www.iol.co.za/business-report/companies/kagiso-to-sell-stake-in-lexisnexis-1150120 |access-date=30 September 2023 |website=IOL}} In December 2011, Kasigo announced that it would purchase publisher Juta and Company Ltd.{{Cite web |date=19 December 2011 |title=Kagiso shares slides |url=https://www.iol.co.za/business-report/companies/kagiso-shares-slides-1201138 |access-date=30 September 2023 |website=IOL}} It would sell off Juta's retail section Juta Bookshops in June 2013.{{Cite web |date=11 June 2013 |title=Times Media: Van Schaik unit buys Juta shops |url=https://www.iol.co.za/business-report/companies/times-media-van-schaik-unit-buys-juta-shiops-1530227 |access-date=30 September 2023 |website=IOL}}

South African black investment group, Kagiso Tiso Holdings bid $187 million in September 2013, to take Kagiso Media private, offering a substantial premium to minority shareholders.{{Citation

| url = https://www.reuters.com/article/us-safrica-kagiso-idUSBRE9890WO20130910

| title= South Africa's Kagiso bids $187 million to take media arm private

| year = 2013

| publisher = Reuters

| publication-place = International

}}

Kagiso entered the television broadcasting market in 2013 when it launched Glow TV on the OpenView HD satellite site.{{Cite web |date=22 October 2013 |title=Kagiso Media: Free-to-air channel Glow TV launched |url=https://www.iol.co.za/business-report/companies/kagiso-media-free-to-air-channel-glow-tv-launched-1595358 |access-date=30 September 2023 |website=IOL}}

In October 2017, Kagiso Media launched an app SoundBar with twelve different Internet music stations.{{Cite news|url=https://businesstech.co.za/news/media/206324/kagiso-media-launches-app-with-12-internet-radio-stations/|title=Kagiso Media launches app with 12 Internet radio stations|access-date=2018-03-12|language=en-US}}

Subsidiaries

Its primary assets include:

References

{{Reflist}}

{{Authority control}}

Category:Mass media companies of South Africa