Kagiso Media’s performance for the year shows that it is moving towards its objective of becoming a converging organisation and that it is delivering on the revenue diversification strategy.

Further to the cautionary announcement dated 11 August 2011 shareholders are advised that Kagiso Media has accepted an offer to sell its shares and claims in LexisNexis (Proprietary) Limited (“LexisNexis”) for the sum of R 565 million.

The increased resilience of Kagiso Media was evident in 2010. The group delivered an 8% increase in headline earnings per share to 136,8 cents while the net asset value per share improved by 23% to 462 cents. A final dividend of 35 cents and a special dividend of 10 cents per share have been declared.

Delivering results in a harsh economic environment Kagiso Media’s businesses are founded on the group’s commitment to building communities for good. In 2010 it touched more than 4,4 million people through its owned broadcasting assets.

Kagiso Media once again delivered a strong operational performance against a tough economic backdrop. Although the operating environment remained tight throughout the financial year, visible signs of improvement began to show from January 2010.