Tiso Blackstar sells Sunday World newspaper

Tiso Blackstar Group, the JSE-listed owner of Business Day and Sunday Times, has sold the Sunday World newspaper to Fundudzi Media, which is owned by David Mabilu.

“The conclusion of the sale agreement ensures that Sunday World will continue to be published and remain part of the SA media landscape,” Tiso Blackstar said in a statement.

Mabilu said: “We are excited about this great opportunity to play a role in shaping the future of the media landscape in SA, and to contribute towards the diversity of ownership, voices and perspectives which are important to our constitutional democracy.

“We plan to maintain the highest standards of quality and ethical journalism.”

Mabilu planned to appoint an editor “to take the title to the next level”, the companies said in a statement.

“The paper’s readers and the public at large can look forward to more entertaining content, and robust, quality journalism that is ethical, fair and balanced,” Mabilu said.

The sale will become effective at the end of June.

Sunday World will continue to operate from Tiso Blackstar’s premises during a transition period, said Tiso Blackstar managing director Andy Gill.

In 2011, City Press reported that Mabilu took then-ANC Youth League leader Julius Malema to his wedding in Mauritius, and also deposited tranches of cash into Malema’s trust fund via his Vharanani Properties business.

Meanwhile, Tiso Blackstar said last week it had bought media titles The Media and The Media Online, as well as the annual MOST Awards, EasyDIY magazine, and www.easyDIY.co.za, from Wag The Dog Publishers.

hedleyn@businesslive.co.za