Media owner Mzwanele Jimmy Manyi says he has paid the controversial Gupta family everything he owes them for news channel ANN7 and The New Age newspaper. The former government spokesman said in a statement released at the weekend he hoped the move would "put to rest any suspicions of lingering involvement" by the Gupta family in the media company. The move was to save 500 jobs at the media company. Manyi bought the newspaper and TV channel from the Guptas’ Oakbay business with R450m that the Guptas lent him in a vendor financing deal. His statement explained that the amount owed had been renegotiated‚ lowered and then settled in full. ANN7 spokesperson Gugu Masinga confirmed the amount paid to clear the debt was lower that the R450m Manyi had borrowed. In a statement released on Saturday night‚ Manyi’s company‚ Afrontone Media Holdings‚ said: "Consequently‚ Afrotone Media Holdings’ ownership of Infinity Media Networks‚ ANN7 and The New Age is now debt free and unencumbered. As a ...
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