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South Africa: Media family sells rest of magazine publisher

 |  November 4, 2013

The owners of RamsayMedia announced plans to sell the rest of itself to media competitor Caxton, though financial details of the sale remain undisclosed.

Caxton currently owns 30 percent of RamsayMedia, the publisher of magazines including Getaway, Car and Popular Mechanics.

RamsayMedia is family-owned.

According to reports, Times Media Group made a bid for RamsayMedia, prompting Caxton to exercise its preemptive rights to acquire the rest of the firm.

The Ramsay family said the sale was in its early stages.

Full content: BDLive

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