By Herman Manson (@marklives) The Sekunjalo Independent Media (SIM) consortium has (finally) announced details of the ownership of the consortium that successfully bid for Independent News & Media SA. The consortium will hold 75% of the shares in the newspaper group while the Government Employees Pension Fund (GEPF), through the Public Investment Corporation (PIC), will hold 25% (but wait – it’s not quite as simple as that – read on).
The publisher, about to be liberated from an Irish holding company widely credited with stripping a once powerful editorial operation to its bare bones, owns the Cape Times, Cape Argus, Weekend Argus, Daily Voice, The Star, Pretoria News, Saturday Star, Sunday Independent, Diamond Fields Advertiser, Weekend Pretoria News, Daily News, The Mercury, Post, Independent on Saturday, the Sunday Tribune, Isolezwe and a host of community newspapers.
