Naspers says it is probing MultiChoice’s ANN7 contract
It will assess whether there have been any governance failures and whether the amount paid is in line with payments to other locally produced TV stations
Naspers pay-TV unit MultiChoice started an investigation into whether there was any evidence of wrongdoing regarding its contract with ANN7, the 24-hour news channel formerly owned by the politically connected Gupta family. Africa’s biggest company by market value was responding to allegations that MultiChoice had a corrupt relationship with ANN7, which Gupta-controlled Oakbay Investments sold along with other South African media interests earlier this year. "These allegations have negatively impacted the reputation of MultiChoice," Don Eriksson, chairman of the unit’s risk and audit committees, said in an e-mailed statement on Friday. The probe threatens to embroil Cape Town-based Naspers in the scandal surrounding the Guptas, who are accused of using their friendship with President Jacob Zuma to win lucrative state contracts and influence ministerial appointments.