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ANC congratulates Manyi's Lodidox after ANN7 & 'The New Age' purchase

The ANC says it remains committed to preserving a cordial and constructive relationship with the new owners of the media institutions.

FILE: Mzwanele Manyi. Picture: EWN

JOHANNESBURG - The African National Congress (ANC) has congratulated Mzwanele Manyi's company, Lodidox, after it bought ANN7 and the The New Age .

Oakbay investments announced on Monday that it’s sold the Gupta-owned TV channel and newspaper to Manyi for R450 million, an amount he will pay back to the family after an agreement to do vendor financing.

The company says the sale is part of its commitment to preserve jobs and provide certainty to more than 7,500 employees.

The ANC says it remains committed to preserving a cordial and constructive relationship with the new owners of the media institutions.

(Edited by Zamangwane Shange)