No tabloid for Business Day

"The benefits of the intended change to tabloid format are many and it will remain an option but at this stage we would like to apply caution. We would also like to monitor the performance of digital subscriptions. The tabloid is very close to my heart and it is painful to have to apply the brakes but is there is no doubt it is the sensible thing to do right now," he says.

The Times Media Group (TMG) has agreed to purchase the outstanding 50% shares of BDFM from Pearson in the UK to hold full ownership of the BDFM titles. For the moment, the priority for TMG is to ensure that operational efficiencies and business functions streamline to integrate Business Day and Financial Mail smoothly into the stable, which includes The Times, Sowetan, SundayWorld, Daily Dispatch, The Herald and the Sunday Times.

"The integration of the Business Day and Financial Mail newsrooms is well underway and this, together with the successful BDlive platform, will enhance our standing as the country's foremost business news and analysis provider," concludes Bruce.