Caxton to buy SA family-owned media company

Listed media and printing group Caxton is in advanced discussions to purchase the remaining 70% stake in family-owned media company, Ramsay Media, for an undisclosed sum.

Ramsay Media’s magazine titles under its brand include Car, Complete Golfer, Getaway Magazine, and Popular Mechanics.

Caxton meanwhile, owns 41% in Moneyweb, while additional brands include Farmers Weekly, The Citizen, and a number of community titles.

A spokesperson for Ramsay Media told BusinessTech that talks were at a “very advanced stage” with hopes to have talks wrapped up “very soon”.

At the end of August, Caxton entered into an agreement to dispose of its remaining 15% in Pearson Holdings Southern Africa in a deal worth R703.3 million.

Also in August, the group reported a 7% rise in turnover for the year ended June 2013.

Profit from operating activities was up by 12.2% and depreciation increased from R226.5 million to R241.6 million.

Headline earnings improved by 11.7% from 109.8 cents to 122.6 cents per share.

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Caxton to buy SA family-owned media company