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Primedia Unlimited on acquisition drive

Primedia announced today, Wednesday, 23 May 2007, that it has acquired a majority stake in Lifestyle Communications and POP (Point of Presence) from Old Mutual Property Group. Operating under the Primedia Unlimited banner, Lifestyle Communications has been re-branded Primedia Lifestyle and POP has been incorporated into Primall Media.

“For the first time advertisers will have access to impactful media plans on a national basis through Primall Media,” says Ken Varejes, CEO, Primedia Unlimited. “Advertisers prefer working with a one-stop-shop that can deliver effective national reach and Primall Media now dominates mall advertising in South Africa and has firmly filled this market gap.”

Established six years ago, POP was a founding player in the mall media industry. The merger of Primall Media and POP has resulted in an even more powerful media offering, with a footprint of key major shopping malls across the country and covering the LSM spectrum. The broader operational coverage translates into an unprecedented reach with critical mass, while economies of scale mean more comprehensive research and cost efficient production, according to Primedia Unlimited.

Shopping mall marketing

Founded in 1996, Primedia Lifestyle specialises in the advertising, marketing and promotion of shopping malls. This full service company delivers marketing strategies that improve retail sales and increase repeat visits and market share. It currently operates at over 60 shopping malls across South Africa.

“As a result of the marriage with Primedia Unlimited, Primedia Lifestyle has gained access to the group's media expertise and client contacts, adding another dimension to Primedia Lifestyle's growth prospects,” adds Varejes.

As a major national player in the property industry with a portfolio of 250 commercial, industrial and retail buildings, the Old Mutual Property Group has welcomed the partnership with Primedia Unlimited, which allows it to concentrate on its core business of property management.

Primedia Unlimited was launched at the end of 2004 to acquire, develop and grow new and innovative sectors of the media industry. Primedia Unlimited's exponential growth has added 11 media companies to its bouquet.

[23 May 2007 22:18]

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