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Tiso Blackstar Group sells media business to Lebashe for R1bn

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Tiso Blackstar Group, the publisher of TimesLIVE, the Sunday Times and several other media titles, has sold its print, broadcasting and content businesses in SA, Ghana and Kenya to Lebashe Investment Group for R1.05bn.

Tiso Blackstar said the sale, which is subject to regulatory and other approvals, will unlock significant value for its shareholders “while also ensuring that the media business has a strong and committed shareholder in Lebashe to take it forward”.Hirt & Carter and the Gallo Music Group.

Lebashe’s chair Tshepo Mahloele said: “The transaction complements our current portfolio and growth trajectory. We anticipate that our newly acquired media assets will play a critical role in our ambition to create a significant investment company on the continent. Tiso Blackstar Group CEO Andrew Bonamour said: “We have worked hard to ensure we modernise the media business from its legacy structures into an agile and forward-looking company with a sustainable future. This is a perfect opportunity for a new owner to take it to greater heights.”

 

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