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Why I rejected Tiso Blackstar, Independent Media merger - Iqbal Survé | IOL Business Report

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Why I rejected Tiso Blackstar, Independent Media merger - Iqbal Survé busrep

Pretoria - Chairman of the Sekunjalo Group and executive chairman of Independent Media Dr Iqbal Survé said he had resisted overtures from rival media group Tiso Blackstar as it would have led to the loss of hundreds of jobs.

Emmanuel Lediga, an assistant to the commissioner Justice Lex Mpati, asked Survé if the PIC had held a meeting with Survé and Tiso Blackstar to address the rivalry between the two media groups. Survé acknowledged that such a meeting had taken place, saying he agreed to the meeting because he did not "think a war situation between media houses is good for anyone especially when you are dealing with the lives of people employed by both companies".

“When Bonamour, initially approached me to merge the two companies he said we should merge the entities, retrench half of the combined staff and we would have a profitability of R250 million in media assets.”

 

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