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MediaHouse Subsidiaries To Produce Jamaica Telephone Directories
Hamilton, Bermuda, December 12, 2005 - The Bermuda Stock Exchange (BSX) has been advised by MediaHouse Limited that effective December 1, 2005 Global Directories (Caribbean) Ltd, Global Directories (Jamaica) Limited and Global Directories (St. Lucia) Ltd., all subsidiaries of Media House Limited, entered into an agreement with Cable and Wireless (Jamaica) Limited which involves the outsourcing of sales, production and distribution of the Cable & Wireless, Jamaica telephone directories.
Previously Global Directories (Caribbean) Limited had provided management and marketing services to Cable & Wireless (Jamaica) Limited, under agreements with that company.
This agreement will result in the Group increasing its level of debt to finance the acquisition of capital assets and to provide working capital under the new arrangement.
The Directors believe that the new agreement will have a beneficial impact on both revenue and profitability together with further enhancing the Groups' relationship with Cable and Wireless in the Caribbean.