The Lebashe Investment Group has announced the acquisition of the media, broadcasting and content businesses of Tiso Blackstar Holdings in South Africa, Ghana, Nigeria and Kenya for R1.05 billion.
Titles under Tiso Blackstar include the Sunday Times, Sowetan, Business Day, and Financial Mail.
The media assets in this transaction collectively reach more than 20.7 million people in SA alone and play a major role in informing, educating and entertaining the consumer and corporate stakeholders on the continent, Lebashe said in a statement.
The transaction represents Lebashe’s intention to be one of the key players in the digital and content sectors, it said.
“We believe that Lebashe provides a compelling growth opportunity for the media, broadcasting and content businesses in the Tiso Blackstar stable. Our combination of specialist Pan-African expertise, technological and financial acumen, make us the ideal partner to take this business to the next level,” said Tshepo Mahloele, the chairman of Lebashe.
Lebashe has investments in Capitec Bank Holdings, RainFin, 4Africa Exchange and others.
While Lebashe’s current portfolio is weighted towards financial services, the group said it believes that technological evolution, changes to social norms and consumer behaviour will drive further integration and introduce new opportunities for customers in its ecosystem.
This transaction is subject to regulatory approvals.