Investor Presentaiton

Which leads to a lot of questions for South African media players • • What room is there to improve margins given that we are now equivalent to global benchmarks? What can be done to drive more sales from the same capital base or reduce the capital base? How can the market optimise returns of current and future capital outlays? Can the media market sustain all the listed players? How can regulation assist future growth and success for the market? How do we achieve the objectives of empowerment, diversity and growth & investment? 12

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