Independent Media’s future uncertain as Sekunjalo pulls funding plug
Group says ‘no more’ after investing R5.2bn – throwing the future of the Cape Times, The Star and The Mercury into doubt.
After pouring what it says is more than R5.2 billion into Independent Media and related media businesses over the past decade, Sekunjalo Group has pulled the funding plug, throwing the future of the newspaper company into doubt.
Also in doubt are titles such as the Cape Times, The Star and The Mercury. Sekunjalo says Independent Media’s licence to use these mastheads expires at the end of July.
