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...