Kenny Setzin, a former executive director of New Africa Investments Limited (Nail), said Nail wanted to invest in pay-TV five years ago in partnership with Sentech, but it was not economically viable at the time. Setzin believes his company, Direng Investments, could play a role by partnering with a pay-TV licencee. The Independent Communications Authority of South Africa ended its pay-TV hearings this week. Eighteen companies including E-Sat, MultiChoice, Telkom Media, Deukom, On Digital Media, SABC and Sentech, applied for licences. The announcement of winning applications is expected in November. Setzin established Direng Investments in 2004. The company has interests in two new commercial radio stations in Mpumalanga and the North West. It also has a 30 percent stake in advertising group JWT and an interest in radio advertising sales firm Radio Heads.