NEWS

The ANC Congratulates Manyi For Acquisition Of ANN7 And The New Age

"We remain committed to preserving the cordial and constructive relationship".

24/08/2017 10:58 SAST | Updated 24/08/2017 11:11 SAST
Siphiwe Sibeko / Reuters
A general view of the Sahara computers headquarters, owned by the Gupta family, is seen in Midrand, Johannesburg. REUTERS/Siphiwe Sibeko

The ruling party on Thursday congratulated former government spokesman Jimmy Manyi for his acquisition of the Gupta family's ANN7 and The New Age newspaper.

"As the ANC, we remain committed to preserving the cordial and constructive relationship with the new owners of these media institutions," it said in a statement, issued by party spokesman Zizi Kodwa.

"The ANC is unwavering in our defence of freedom of the press and the media, likewise, should report fairly and factually".

Manyi's unknown company Lodidox acquired the media houses for R450 million this week. The deal has yet to be finalised.

Read: The Guptas Want To Clear Their Name By Selling ANN7 And The New Age To Mzwanele Manyi

According to TimesLive, Manyi said he looked forward to completing the deal.

"I am delighted to have reached an agreement with Oakbay and look forward to successfully completing the deal," he was quoted as saying.

"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."

The deal makes Manyi the majority shareholder of ANN7 and The New Age.

Oakbay acting CEO Ronica Ragavan said the deal was to benefit both parties.

In another move on Wednesday, the controversial Gupta family also sold off its mining firm Tegeta to a Swiss company called Charles King SA, owned by Amin Al Zarooni.