A PYMNTS Company

South Africa/Ireland: SA reclaims media giant from Irish parent co

By  |  June 17, 2013
South Africa/Ireland: SA reclaims media giant from Irish parent co

Media group Independent News & Media South Africa is set to land in the hands of local executives as the company’s website announced plans to be bought from its Ireland-based parent company by a South Africa-based conglomerate. The media company also announced Monday that its shareholders have approved of the transaction. According to reports, this is the latest deal that highlights growing controversy over the nation’s media ownership. A group of South Africa journalists had issued complaints to the nation’s Competition Commission earlier this month to express concerns over what they considered the secrecy of the Independent’s buyout; the South Africa National Editors’ Forum stated to the regulator that because details of the deal were not disclosed, the journalists could not feel secure about their jobs.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: BDLive

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.