ANN7 is profitable, and other highlights from Oakbay's results

Oakbay Investments, a major shareholder in Infinity Media (which in turn wholly owns ANN7), yesterday released their financial results for the year ended 29 February 2016. Below are highlights from the investment firm's media holdings' performance.

Firstly, and most notably when it comes to editorial policy, the media release states that, "the position of TNA (and by virtue, ANN7) is supportive of government, whilst remaining editorially independent and scrutinising of the ruling party." This must be the first time the organisation has publicly announced that they have that particular slant when it comes to covering government, even though it is basically open knowledge.

Later in the media release the following is stated (draw your own conclusions): "The pro-government stance and regional focus of TNA contrasts with the urban bias and Opposition-supporting focus of most other daily newspapers."

ANN7, which is the third most watched news channel on the DStv platform, boasts 2.3 million monthly viewers.

ANN7 and the New Age's Cadet Academy helps to develop the skills of approximately 40 young journalists a year, nothing wrong there. [Quite nice actually especially in an industry where it is hard to get a foot in the door]

Collectively, ANN7 and The New Age have created 783 jobs in the country.

Alo, they have contributed a combined R275.6 million in revenue to Oakbay's performance for the year, roughly 10% of the group's overall revenue.

Then there is the controversial topic of government's high ad spend on the two platforms. R78.53 million of ANN7's and The New Ages ad revenue is from government. In other words, roughly a quarter of their revenue came from government advertising. This is approximately 9% of government's total ad spend.

The future seems exciting for ANN7 as the channel plans to aggressively hire new talent to increase their presence from being in three provinces to being in six.

In addition, ANN7 is planning on launching a radio station based on the fact that radio is still extremely popular in the country.