{"id":31869,"date":"2013-02-18T10:02:21","date_gmt":"2013-02-18T08:02:21","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=31869"},"modified":"2013-02-18T10:13:06","modified_gmt":"2013-02-18T08:13:06","slug":"sa-media-arm-set-for-r2-billion-sale","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/31869\/sa-media-arm-set-for-r2-billion-sale\/","title":{"rendered":"SA media arm set for R2 billion sale"},"content":{"rendered":"

The Independent News and Media (INM<\/a>) group is set to sell its\u00a0South African arm<\/a>, which includes online news portal, iol.co.za, and print titles including The Star, The Mercury, and the Cape Times.<\/p>\n

According to Reuters, and several other international scribes, the struggling Irish company has\u00a0agreed to sell its South African unit\u00a0to a consortium led by Sekunjalo Holdings<\/a> for R2 billion.<\/p>\n

The sale is subject to a final agreement being signed by both parties, but INM said over the weekend that “detailed heads of terms” have been agreed upon.<\/p>\n

The deal would also require the approval of INM shareholders and the South African competition commission, INM said in a statement, as reported by Reuters.<\/p>\n

In January,\u00a0Ireland\u2019s Sunday Business Post newspaper reported that INM had received offers of around 150 million euros (R1.77 billion) for its South African unit \u2013 approximately 100 million euros (R1.18 billion) lower than the asking price.<\/p>\n

More on\u00a0Independent News and Media<\/h3>\n

Bids for SA media arm short by R1.18 billion<\/strong><\/a><\/p>\n

Break Independent up: SACP<\/strong><\/a><\/p>\n

Ramaphosa to review business interests<\/strong><\/a><\/p>\n

Independent sues Noseweek for corruption claims<\/strong><\/a><\/p>\n

The billion rand bid for Independent<\/a><\/strong><\/p>\n

Independent confirms possible sale: report<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Independent News and Media (INM) group is set to sell its South African arm which includes online news portal, iol.co.za, and print titles including The Star, The Mercury, and the Cape Times.<\/p>\n","protected":false},"author":10,"featured_media":12511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3523,26,3520,3521,1604,5192,5191],"class_list":["post-31869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-cape-times","tag-headline","tag-independent-news-and-media","tag-inm","tag-media-1","tag-sekunjalo-holdings","tag-the-mercury"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/31869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=31869"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/31869\/revisions"}],"predecessor-version":[{"id":31878,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/31869\/revisions\/31878"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/12511"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=31869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=31869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=31869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}