Who would have thought this venerable magazine would be spearheading a bold new media thrust under the auspices of the newly launched The Financial Mail Group?
Not even three months ago the FM, South Africa’s enduring business and investment magazine, was heading for virtual extinction — another print media asset compromised by cost cutting and curtailed advertising spend.
Cue the knight in shining armour, Apex Partners, which, recognising the value of the FM brand and its potential for cornering a viable niche, wasted no time in buying 70% of the magazine.
A powerful and compelling business and investment content platform is taking shape …
It’s early days, but the ambition of Apex is abundantly clear in its subsequent acquisition of the highly rated specialist financial titles Miningmx and Currency News. A powerful and compelling business and investment content platform is taking shape …
Attempts to shake up the financial media sector have been few and far between. Independent Media’s Business Report, which assembled a coterie of top journalists, flared brightly but briefly in the mid-to-late 1990s. Media24 also had a go at integrating Finweek, Fin24 and Sake24 about 20 years ago.
Will it be different this time? We’d like to think so.
The venture has deep-pocketed and patient backers who are realistic about assembling a sturdy media hub capable of solid and sustainable returns.
The confluence of the FM, Miningmx and (especially) Currency News represents a sort of happy homecoming.
The Currency News team is led by former FM editor and award-winning journalist Rob Rose, with several other former senior FM staffers in tow (including another former FM editor, Tim Cohen). David McKay, the prime mover at Miningmx, already has a strong relationship with the FM as a regular contributor.
Though the three titles retain their respective identities, there can be little doubt that collegiality in an enlarged newsroom will be mutually beneficial for astute consumers of business news.
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