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Station for the Nation puts its money where its bid is
BROADCASTING
STATION for the Nation, a bidder for SA's first private free-to-air TV licence, will invest R550-million to launch the station if its bid for a licence is successful. Chairman Vusi Khanyile says the consortium members have either secured or demonstrated their capacity to raise funding to meet their financial obligations if the bid is successful. Although the R550-million seems limited, Khanyile is adamant the money is sufficient for SFTN's requirements and expects the station to break even within seven years. SFTN is one of seven TV broadcasting hopefuls who have lodged applications with the Independent Broadcasting Authority for a licence, expected to be awarded by March next year. Its shareholders include Moribo Investments - the Thebe Investment Corporation subsidiary which holds 25% of the equity - Kerry Packer's Nine Network International (20%), Kersaf (20%), SFTN Trust (30%) - made up of the Ten Alliance, a group of trusts and businesses - while the remaining 5% is held by financial institutions. The viability of the new station will largely depend on its programming content and consequently its ability to attract viewers. For that reason it will compete head-on with existing broadcasters not only for viewers, but in an increasingly competitive market for advertising revenue. "The onus will be on SFTN to show that the station can deliver viewers to advertisers. But I would hope that advertisers are not ideological, but will follow the market," says Khanyile. SFTN will meet the national and regional broadcasting interests of SA. The latter will be achieved by dividing SA into three regional areas serviced by their own regional broadcast centres. "SFTN will bring to SA a new, inclusive, vibrant television programming, which will engage the spirit and culture of Africa while meeting the interests and expectations of the wider SA public." Khanyile says the involvement of Australia's Nine Network holds opportunities for SFTN. The station will source its material from independent producers.
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