Times Media Group (TMG) CEO Andrew Bonamour has poured cold water on reports that the media group had emerged as the frontrunner to buy fellow media company Primedia, which was bought out and delisted by a private equity group almost a decade ago. "There is really nothing to comment about," he said in response to an article in the business section of the Star newspaper Business Report, which quoted unnamed sources suggesting a buyout was imminent. Primedia, whose main assets include major radio stations 947 and 94.5 KFM, was delisted from the JSE in 2007 by a private equity consortium that included Brait and the Mineworkers Investment Fund. Rumours that the company would be relisted on the JSE or sold to a trade buyer have been rife for years now, particularly since private equity investors typically seek an exit after anything between five and seven years. According to a media analyst, the sale, or relisting, of Primedia may be complicated by increasing competition in the radio mar...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.