South African Company Buy 49% Stake In Radio Africa. Times Media Group of South Africa has bought a 49% stake in Radio Africa Limited. The stake is valued at $18.62m (Ksh. 1.58 billion). The move by the media powerhouses is set to help settle debts that Radio Africa had acquired. “It will be good for the company, for the staff and for the shareholders. In our view it is a win-win-win deal. No staff or managers will be laid off as a result of the deal. We will continue to run the business as before. The only difference will be that we will be much stronger financially,” says RAL Group MD Patrick Quarcoo. The acknowledged expertise of Radio Africa in electronic media and TMG’s strength as the largest newspaper publisher in South Africa are set to act as a springboard to develop a powerful regional media business.

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