Cape Town – Tiso Blackstar Group has announced the sale of its media, broadcasting and content in Ghana, Nigeria and Kenya and South Africa to 100% black property by Lebashe Investment Group for 1.05 billion rubles.
The Tiso Blackstar Group has various types and brands of broadcasts such as Sunday Times, Sowetan, Daily Mail, The Working Day and The Herald.
"Lebashe will provide business continuity with key management preservation and is confident that the current business strategy is reliable and viable. Lebashe believes that there will be additional opportunities for asset growth through the acquisition and increase of market share. The diversity has reached unsurpassed in the South African and wider African market, covering print, digital, television, radio and films, "the statement said on Thursday evening.
"The deal will allow Tiso Blackstar to focus on the rest of the business and investments, including Hirt & Carter (" H & C "), which has grown significantly in recent years and operating in a unique segment of the market, and develop it further, as the music industry continues to evolve," continues Tizo. in a statement.
It is expected that the sale will become commercially effective until November 30, 2019.
At weekends, Fundudzi Media announced that it had bought the Sunday World newspaper, which closed Tiso Blackstar.
Tiso's managing director Andy Hill said that Sunday World's victims will be transferred to Fundudzi Media, but this document will continue to work on Tiso Blackstar premises during the transition period.