The level of understanding of the economy in the general media sometimes leaves me astounded. Coverage of the Gross Domestic Product (GDP) data in the The Times is a case in point.
“Rand steady as dollar nosedives.” “Rand softer on global caution.” “Rand firmer on risk appetite.”
There is something I don't understand about Telkom's sale of its media unit to Shenzhen Media, a Chinese-owned company. In terms of our broadcasting laws, a local broadcaster may not be in foreign hands. This fact seems to have escaped most of the journalists covering the transaction, although the South African Press Association (SAPA) raised the question with Independent Communications Authority, and received a vague and equivocal answer. ICASA is "applying its mind" to the transaction, spokesman Sekgoela Sekgoela said, and would "engage" with Telkom over the matter.
I’ll be the only South African blogger not to write about Jacob Zuma today. Instead, I’ll rabbit on about my other pet subject: newspapers; or rather, I should say, the future of news.
There has been a lot of brow beating lately about the role of the media in the global economic crisis. To what extent did the media contribute to the crisis? Did the media do enough to forewarn their audiences, and are they doing enough now to help people understand where we’re going?