Arguably two of South Africa’s most controversial media outlets – ANN7 and The New Age (TNA) – have been acquired by Mzwanele Manyi’s Afrotone Media Holdings (AMH).
Until the finalisation of this acquisition, both ANN7 and The New Age were owned by Oakbay Investments, a company that was in turn tied to the controversial Gupta family.
At the weekend AMH sent out a press release stating that it had settled payments with Oakbay.
“The paid-up position comes after very tough negotiations between Oakbay and Manyi’s consortium,” AMH said in a statement. “Owing to the operating environment, Oakbay agreed to fully relinquish its hold on the companies’ pledged shares leading to a newly negotiated settlement deal. ”
The consortium added that its ownership of TNA and ANN7 was now debt free.
— ANN7 (@ANN7tv) April 21, 2018
Following this news it was announced this morning that ANN7 will relaunch as Afro Worldview. The new look and feel will go live on 30th April on DStv channel 405. However, broadcasting on DStv will cease on 20th August following a decision by DStv earlier this year.
TNA will also be rebranded as Afro Voice and its editorial policy will be guided by the press code ANN7 (or is it Afro Worldview now) reported.
The rebrand should go a long way to restoring confidence in ANN7 and TNA as Manyi tries to put some distance between the media outlets and the controversial Gupta family.
Multichoice has confirmed that Afro Worldview is one of the black-owned news channels currently bidding to replace ANN7 in August