Guptas sell ANN7 and The New Age to Mzwanele Manyi

Cape Town – A firm owned by Mzwanele Manyi has bought Gupta-owned media units ANN7 and The New Age, it was announced on Monday.

Gupta-owned Oakbay Investments said in a statement that Manyi-owned Lodidox bought ANN7 (Infinity Media) for R300m and The New Age (TNA Media) for R150m.

The agreement is expected to be concluded over the next few weeks, subject to any regulatory requirements, Oakbay said.