TISO Blackstar will exit noncore assets to focus on the media industry.The decision comes a year after Blackstar merged with Tiso Holdings to form Tiso Blackstar.Following the deal, Tiso Blackstar has exposure to a broad range of sectors including healthcare, financial services, and industrial.Tiso Blackstar, the owner of Business Day, said that its decision to focus on the media industry would allow a "concentrated approach" and reduce "the potential dilutory valuation effects on the group of a multi-industry investment counter".CEO Andrew Bonamour said the group would exit the noncore businesses "when we get the right pricing and can maximise value for our shareholders".Tiso Blackstar’s media assets include newspapers, magazines, TV, and radio stations in SA. It also has media assets in Kenya, Ghana and Nigeria.Times Media Group (TMG), which houses its media assets, had been affected adversely by the economic downturn, Tiso Blackstar said on Wednesday at the release of its interim...
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