New Age and ANN7 staff told their jobs are safe after Guptas sell to Mzwanele Manyi
Editor-in-chief Moegsien Williams says the family has been under ‘unprecedented and unrelenting pressure’ and has been reviewing its shareholding
Staff at the Gupta-owned ANN7 and The New Age have been told that their jobs are safe following the announcement that Oakbay are offloading their media interests. Management, which included spokesman for the family Gary Naidoo, New Age editor Ricky Naidoo and editor-in-chief of TNA and ANN7, Moegsien Williams, addressed staff at a meeting on Monday after the announcement. According to staff members, who wanted to remain anonymous, management could not answer some of the questions employees asked, saying they were still in negotiations and as soon as they had concluded they would be in a better position to provide information. Gupta-owned holding company Oakbay Investments announced earlier that it was selling its shareholding in Infinity Media and TNA for a combined R450m. According to Oakbay, Lodidox — owned by Gupta-ally Mzwanele Manyi — and management would purchase the media companies. Oakbay’s shareholding in Infinity Media, which operates the ANN7 News Channel, will be sold fo...
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