Tiso Blackstar, Lebashe in talks to sell radio assets

London-based Tiso Blackstar Group says it has entered into new negotiations for the sale of its African radio assets to Lebashe Investment Group after an initial deal failed to materialise.

Last year, the former publisher of Business Day, the Sunday Times and other titles sold its print, broadcasting and content businesses in SA, Ghana and Kenya to Lebashe for R1.05bn.

The deal was to be done in two phases, with SA operations in one and the Africa operations the other.

Yesterday, Tiso Blackstar said it had proved impossible to obtain the required signature of a minority shareholder of Ghanaian media company Multimedia Group to conclude the sale of its radio assets in the rest of Africa.