Times Media sells Nu Metro cinemas for R75m to KZN-based private equity firm

Times Media took another big restructuring step today with the sale, for R75m, of wholly owned Nu Metro, the country’s second largest cinema operation after Primedia’s Ster Kinekor. Sales house Popcorn Advertising is part of the transaction. The new owner is KZN-based private equity company OneFiftyCapital, better known through its ownership of former Naspers-owned education … Read more

Adam Smith, author, broadcaster, “discoverer” of Warren E Buffett, has died

Financial journalism in 1980, when I joined the business, was a very different proposition to nowadays. The Internet, SENS, live prices and the tsunami of information we now take for granted was still almost two decades off. Print ruled and financial news was released to fit into newspaper deadlines. But some principles have endured. The … Read more

Times Media Group CEO Bonamour’s Blackstar ups TMG stake above key 25%

By Alec Hogg Andrew Bonamour (right), who switched his attention from investment banking to media when becoming the CEO of Times Media Group (TMG) a year ago, is off to a flying start in his new role. TMG was one of the best performing stocks on the JSE last year, its share price gaining 53%. … Read more

Stock market predictions 2014: What’s realistic, what’s not

Ask anyone if they know where the stock markets are heading and they are likely to greet your question with disbelief. “If I knew that, I’d be rich,” is the type of answer you can expect to receive. Yet, there are many professionals who earn their keep by providing pointers on where assets might be … Read more

PIC buys more, boosts its Adcock Ingram stake to over 22%. Final nail for CFR bid?

Any lingering hope which Chilean group CFR entertained in its pursuit of Adcock Ingram surely ended this morning. The largest shareholder, the Public Investment Company, has been quietly accumulating stock. It announced through SENS that its stake in Adcock is now  22.3%, up from 18.9% stated in the pharma company’s most recent annual report.  Today’s announcement … Read more

Wealth creation: The investment case for Africa

Here’s an article that will put you in a great spending mood for 2014: fortunes are looking up for many businesses around Africa, with abundant opportunities for investors. Investment expert Mike Browne of Seed Investments highlights some major trends that could turbo-charge revenues for companies servicing the growing middle classes beyond South Africa’s borders. Mike … Read more