INFINITY MEDIA AND TNA
Manyi claims prejudice over media purchase
New owner Mzwanele Manyi seems to have grossly overpaid for Infinity Media, something he has denied
There was a "malicious narrative" around the acquisition of Infinity Media and TNA, new owner Mzwanele Manyi said on Wednesday. He claimed there was an intention to "cast aspersions" and undermine the purchase of a media entity by a black person. Manyi was asked by various media houses to disclose his shareholders‚ in terms of the Companies Act. In a bizarre media briefing at the ANN7 studios in Midrand, Johannesburg, on Wednesday, Manyi said the request to have his company information made public was "unusual". Manyi provided share certificates in a bid to prove he was the sole shareholder of Lodidox, the company that bought the Guptas’ media assets. Journalists attending the briefing were made to sit in the ANN7 studio as an audience while the television channel took the briefing live. Last week, Oakbay Investments announced its withdrawal from its media interests‚ selling its shareholding in Infinity Media and TNA to Lodidox and management for R450m. Lodidox and management will t...
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