Lebashe’s Arena Holdings to house Tiso’s media assets
Lebashe Investment Group, the new owner of Business Day and Sunday Times, has launched a new company, Arena Holdings, which will house all its media assets bought from Tiso Blackstar for R1.05bn.
During his address to employees, Lebashe’s chair Tshepo Mahloele also revealed the strategy for the business. Arena’s other media assets include Sowetan, Daily Dispatch, The Herald, Business Day TV and Financial Mail.
“We are in it for the long haul. We want this new entity to focus solely on protecting and building our current media assets in SA, to grow the media business across the African continent, and to help our businesses to effectively navigate industry changes that are brought to bear by digital disruption and other market forces,” he said.
Mahloele said there are no plans to change the current management of the company but will be constituting a new board in the near future for Arena, which he will chair.
The business will continue under the leadership of Andy Gill and his deputy, Moshoeshoe Monare.
Lebashe is an unlisted investment holding company focusing on financial services and ICT, among other things. The company has grown significantly since its inception and holds stakes in a number of well-known businesses, such as Capitec, EOH and RainFin.