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New Primedia Unlimited division to tout for innovative business

31 Jan 2005

The latest arrival on the South Africa media scene is Primedia Unlimited, a new division of Primedia Limited, headed up by veteran media innovator, Ken Varejes. Varejes and Primedia Unlimited's brief is to develop and grow new and innovative sectors of the media industry. To date it has already acquired a controlling interest in four well-positioned media operations, in an investment of R30 million (cash and shares).

Investments by Primedia Unlimited include:

Wide Open Platform, specialists in large format, high impact advertising structures on landmark buildings and construction sites and at airports (60% ownership acquired by Primedia).

A+D Media, an established and leading service provider of advertising in high traffic shopping malls and parking arcades throughout South Africa (50.1% ownership).

Forecourt Television Network (FTN), the leader in forecourt advertising at service stations nationwide (in a joint venture with ComutaNet).

Primestars, established together with marketing entrepreneur, Martin Sweet (ownership 50.1%). An incubator for new ideas, Primestars is focused on developing and bringing to reality, cause related marketing concepts, which will be leveraged throughout the Primedia Group. For instance, Primestars' major drive for 2005 is an Entrepreneurial Club, providing South Africans with the tools to launch their own small businesses. Events and presentations will be broadcast to Club members via Ster-Kinekor Theatres, making this unique concept and expertise available across the country.

Comments Varejes, as Primedia Unlimited's CEO: "The growth prospects for Primedia Unlimited are truly infinite, hence the name. The companies in the new stable are all geared for growth and expansion in their respective areas of specialisation. We are also evaluating a number of other profitable and niche media sectors."

Varejes, headquartered in Rivonia, Sandton, has launched numerous new and sustainable media options to the South African market in the past.