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S.Africa's Naspers appoints Jim Volkwyn head of pay-TV
April 1, 2014 / 12:03 PM / 4 years ago

S.Africa's Naspers appoints Jim Volkwyn head of pay-TV

JOHANNESBURG, April 1 (Reuters) - Naspers named Jim Volkwyn head of its pay-television business on Tuesday as South Africa’s largest company by market value pushes the lucrative segment into more homes on the African continent.

Volkwyn, who previously headed the unit, is replacing Eben Greyling, who helped increase Naspers’ subscriber base to 7.3 million households across 48 African countries at the end of September 2013.

Outgoing chief executive Koos Bekker is also stepping down this month and will be replaced by e-commerce veteran Bob van Dijk to help drive Naspers’ aspirations in that sector.

Although now playing second fiddle to e-commerce, pay-TV is still a key revenue contributor to the Internet and media company, generating 17 billion rand ($1.6 billion) in sales in the first half.

Founded in 1915 as Nasionale Pers, or “National Press”, Naspers was widely seen as the mouthpiece for the white minority government. But with the end of apartheid in 1994, it has increasingly focused on building and acquiring internet businesses in fast-growing markets.

Naspers shares had gained more than 2 percent at 1122 GMT to 1,187 rand, outpacing Johannesburg blue-chip index that was up 0.7 percent. ($1 = 10.5179 South African Rand) (Reporting by Helen Nyambura-Mwaura; editing by David Dolan)

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