Naspers, Globalization and Global Media Contraflow. Tomaselli, KG
Title: Peripheral Capital Goes Global: Naspers, globalization and global media contraflow. Tomaselli, K. G. Abstract Naspers, a South African media conglomerate worth USD$64 billion in 2016, operates across a range of media and information platforms in 120 countries, including many ‘emerging markets’. Naspers is an exemplar of media markets’ contra-flow, conceptualised as the movement of information, media content, consumer goods and capital from the ‘developing world’ into more developed markets. This study i) examines how Naspers has diversified its core media holdings (print and satellite) into digital information service providers and e-commerce; ii) how this was achieved both globally and domestically; and iii) how this diversification allowed Naspers to maintain its pre-eminent position in the South African media market. South African financial magazine articles, between 2010 and 2014, reporting on Naspers’s globalisation, are thematically examined with regard to globalization, diversification, ownership and control and collaboration. These themes frame a 1 political economy analysis of how Naspers penetrated, expanded and solidified its e-commerce business operations nationally and globally. Keywords: Naspers, Tencent, globalization, emerging markets, diversification, BRICS, contra-flow 2 Introduction Although a global conglomerate and the dominant company listed on the Johannesburg Stock Exchange (JSE), little has been published on Naspers (National Newspapers). While some historical research has been done by Botma (2008), Anonymous (1989) and Viljoen (2006), our study focuses on the contemporary phenomenon of Naspers’ digitization and globalization. We briefly discuss Naspers at a macro-level, in terms of contra-flow of information between South Africa and China and Naspers’ stake in Tencent Holdings in the context of China’s battle for dominance in cyberspace (Thussu et al., 2017).
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