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PIC calls on Tiso Blackstar & Independent Media to end public spat

The spat has its genesis in Surve’s Sagarmatha Technologies’ failed bid to list on the JSE, which Independent Media believes was the result of a plot hatched by Tiso Blackstar executives.

FILE: Independent Newspapers head Iqbal Surve. Picture: Iqbal Surve/Facebook

PRETORIA - The Public Investment Corporation (PIC) has called on media companies Tiso Blackstar and Independent Media to put a stop to their ongoing public spat, which has gone on for several months now.

The call follows a response on Wednesday from Tiso Blackstar, which owns titles such as the Business Day and Sunday Times, to Iqbal Surve, who is an executive chair of the Sekunjalo Group, which owns Independent Media.

The spat has its genesis in Surve’s Sagarmatha Technologies’ failed bid to list on the JSE, which Independent Media believes was the result of a plot hatched by Tiso Blackstar executives.

The PIC has reluctantly weighed in on the ongoing spat because it was listed in Tiso Blackstar’s latest public statement.

The PIC holds shares in each of the media companies.

The corporation says it’s never asked Tiso to assist in the management of Independent Media, as alleged by Tiso.

It says it was Tiso which approached the PIC on several occasions requesting that it facilitate a meeting between the two media competitors.

The corporation says the continued spat does not help the media industry, and it’s urged the companies to focus on creating value for investors, along with educating and informing the public.

(Edited by Zamangwane Shange)