By BO Staff Writer
As the progressive 24-hour news channel, ANN7, celebrates its 4th birthday today, news have emerged that the channel will now have a new owner.
Business man and chairperson of the Progressive Professional’s Forum, Mzwanele Manyi, has gotten tongues wagging with an unexpected purchase of two of South Africa’s most progressive media platforms, ANN7 and The New Age newspaper.
In a statement released by Oakbay Investments, it was revealed that Manyi will be purchasing ANN7 for R300m and The New Age for R150m, through his company Lodidox.
Oakbay, a Gupta-owned company, has been under attack from all sides by white monopoly capital and its agents, which have not only smeared the name of the company, but also orchestrated for its bank accounts to be closed.
“The sale is part of Oakbay’s commitment to preserve jobs and provide certainty to over 7 500 hard-working employees throughout the group and to safeguard the inherent value of the businesses in which they work.
“Under a new majority shareholder, Oakbay believes that both businesses and their employees will have the bright and prosperous future they deserve. The sale will also allow the shareholder the time to focus on clearing its name in the face of unfounded media allegations,” Oakbay said.
Manyi said he was looking forward to completing the deal.
“These are two strong businesses which are full of potential and, under the right external circumstances, can become an increasingly important and relevant part of the South African media landscape,” Manyi said.