Pay TV slows, Internet grows at Naspers

Consolidated revenues were up 17%. Though its largely offshore internet businesses grew during the period, subscriber growth at MultiChoice, which owns DStv and M-Net, slowed after a flurry of activity in 2010 driven by the soccer World Cup.

The media group says its print media business has experienced strain on account of the economic downturn, but it managed to maintain market share.

Core headline earnings grew by only 8% during the period and the company attributes this to the new platforms and businesses it launched during the period and the expenses those incurred.

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