Tiso Blackstar Group (“Tiso”), the Johannesburg Stock Exchange media company has decided to sell 100% of its media businesses to Lebashe Investment Group for R1 billion. Tiso currently owns brands such as Business Day, TimesLive, Sowetan and Sunday Times. Tiso will retain ownership of the Gallo Music Group, radio assets as well as the high growth advertising business known as Hirt & Carter. The transaction will be finalized once the South African Competition Commission approval is obtained.
Lebashe Investment Group (“Lebashe”) is a 100% black owned investment holding company that holds stakes in strong South African assets such as the Capitec, EOH and Rainfin. The deal is expected to be concluded by the end of November 2019 which will further diversify Lebashe’s assets to the media sector.