Jimmy Manyi addresses the Pretoria Press Club on July 25, 2011 in Pretoria, South Africa.
JOHANNESBURG - The controversial Gupta family has sold it's stake in broadcaster ANN7 and The New Age (TNA) newspaper for a total of R450-million to former government spokesperson and controversial businessman, Mzwanele Manyi.
Oakbay Investments announces the sale of its shareholdings in Infinity Media and TNA Media to Lodidox and Management for R450 million pic.twitter.com/XA7P9ylszq— Oakbay Investments (@OakbayGroup) August 21, 2017
Oakbay says, ‘the sale will allow the shareholder the time to focus on cleaning its name in the face of unfounded media allegations.’
The Guptas have been embroiled in a series of scandals after thousands of emails were leaked.
South Africans have shared their own opinions about the controversial sale.
Sceptics questioned the purchase my Manyi.
I've never run a newspaper but did run eNCA 24hr news for nearly 10 years. No chance #ANN7 is profitable or worth R300m.— Patrick Conroy (@PatrickConroySA) August 21, 2017
Jimmy Manyi now wants a pat on the back for not beating up his wife in their 30 years of marriage. Kgante what was supposed to happen? pic.twitter.com/6fq7wH1rt6— IG: ConceptSixty5 (@Sentletse) August 13, 2017
Some called it criminal...
How do you congratulate criminal activity?— Julius Sello Malema (@Julius_S_Malema) August 21, 2017
BREAKING: Guptas sell ANN7 and The New Age to Mzwanele 'Jimmy' Manyi for R450m. More on @Fin24 soon.— Adriaan Basson (@AdriaanBasson) August 21, 2017
Impressive how Lodidox, until June an inactive shelf company, managed to raise R450m to buy ANN7/New Age, innit?— Phillip de Wet (@phillipdewet) August 21, 2017
Manyi has volunteered to be a Gupta front for ANN7 and The New Age pic.twitter.com/KBBSHRY3GN— IG: ConceptSixty5 (@Sentletse) August 21, 2017
Manyi has come out with a positisve outlook despite the critics and speculation about his purchase of the media organisations.