{"id":51566,"date":"2014-01-12T18:50:28","date_gmt":"2014-01-12T16:50:28","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=51566"},"modified":"2014-01-12T18:57:46","modified_gmt":"2014-01-12T16:57:46","slug":"times-media-sales-almost-done","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/media\/51566\/times-media-sales-almost-done\/","title":{"rendered":"Times Media: sales almost done"},"content":{"rendered":"

Times Media says that the sale of a number of \u00a0‘non-core assets’ is almost complete, following the most recent offloading of cinema chain, Nu Metro.<\/p>\n

This is according to the Sunday Times, which is owned by Times Media.<\/p>\n

The paper reported that CEO Andrew Bonamour will now look to build the company into a pan-African media house focused on content, radio, TV, digital and newspapers.<\/p>\n

Bonamour noted that only small book-related assets were left on its unwanted list, with the sale process ‘largely complete’.<\/p>\n

Bonamour’s Blackstar bought 20% of the media company in 2013 as Tokyo Sexwale’s Mvelaphanda group sold out, and has since upped its share to 25%.<\/p>\n

The private equity owners immediately\u00a0identified\u00a0assets they deemed ‘non-core’ while “cleaning up the balance sheet”.<\/p>\n

Times Media Group<\/a>\u00a0concluded the disposal\u00a0of its\u00a0Nu Metro\u00a0Cinema<\/a>\u00a0and Popcorn\u00a0Advertising to\u00a0One Fifty Capital, for R75 million, earlier this week.<\/p>\n

The Sunday Times pointed out that the media company kept the film business and catalogue of movies with content useful for its TV and radio ambitions.<\/p>\n

In December, TMG\u00a0acquired a\u00a065% interest in Mpower FM Radio,\u00a0a commercial radio broadcaster based in\u00a0Nelspruit, Mpumalanga, with a satellite studio in\u00a0Emalahleni.<\/p>\n

\u201cIt is the intention of\u00a0TMG to re-launch and re-brand the station in early 2014\u00a0as part of a larger broadcast strategy in South Africa\u00a0and Africa,\u201d TMG said in a\u00a0statement.<\/p>\n

In August, TMG\u00a0sold its investment and market data business, I-Net Bridge to Naspers-owned McGregor Bureau for Financial Analysis (BFA) for R115 million. It also sold\u00a0Exclusive Books and\u00a0The Van Schaik Group of Companies for\u00a0R435 million.<\/p>\n

More on Times Media<\/h3>\n

TMG offloads Nu Metro Cinema<\/strong><\/a><\/p>\n

Times Media sells I-Net Bridge<\/strong><\/a><\/p>\n

Times Media finds buyer for Exclusive Books<\/strong><\/a><\/p>\n

Times Media results a mixed bag<\/strong><\/a><\/p>\n

Times Media targets broadcast strategy<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Times Media says that the sale of a number of ‘non-core assets’ is almost complete.<\/p>\n","protected":false},"author":10,"featured_media":43862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5554],"tags":[7298,26,4620,4616,5706],"class_list":["post-51566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-blackstar","tag-headline","tag-i-net-bridge","tag-nu-metro","tag-times-media"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/51566","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=51566"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/51566\/revisions"}],"predecessor-version":[{"id":51568,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/51566\/revisions\/51568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/43862"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=51566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=51566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=51566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}