As a result of the deal, the MDIF is now the majority shareholder of M&G Media Limited and current CEO Hoosain Karjieker becomes a minority shareholder.
The new owners of @mailandguardian: @mdiforg and @HoosainK with the Media Investment Fund holding the majority share. pic.twitter.com/vFnq9CaKNC
— Mia Malan (@miamalan) December 12, 2017
Comments from social media have been positive, as the acquisition is expected to mean the paper's independent editorial integrity will be upheld.
Good News for a fine fearless investigative newspaper needed now more than ever @mailandguardian https://t.co/8HNAG8lT32
— Peter Hain (@PeterHain) December 12, 2017
The @mailandguardian is under new owners. Huge vote of confidence in SA's most venerable publication - and a guarantee of a bright future https://t.co/hHGTEQa9bW
— Simon Allison (@simonallison) December 12, 2017
M&G editor-in-chief Khadija Patel is encouraged by the acquisition news, as she says:
“As a small independent publisher, the M&G feels the turmoil of the global media industry acutely. This now presents us with a real opportunity to alleviate our financial difficulties.”Outgoing publisher Ncube takes full responsibility for what he calls "mistakes made during his tenure", and now assumes 100% of Alpha Media Holdings, which owns the Zimbabwe Independent and NewsDay Zimbabwe.
My Press Statement on changes in ownership of Alpha Media Holdings (Zimbabwe) and M&G Media(SA)
— Trevor Ncube (@TrevorNcube) December 12, 2017
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