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%..Judging by the company's bullish leader, there could still be considerable upside. A little noticed SENS announcement last week disclosed that Bonamour's Blackstar Group has bumped up its stake in TMG to a fraction over 25%. In South African company law, 25% is a key level at which a raft of new rights gets triggered. Most significantly, it effectively blocks any hostile party from buying the company..Bonamour (42) tells Biznews.com: "I wanted 25% as I believe the business needs a long term solid shareholder. There is still lots to do. To my mind, in media one needs to be owner-managed to be able to make quick decisions to take advantage of opportunities and changes in the market place. Media changes quickly and one doesn't want to make short-term decisions just to regret them later. I see a lot of value in Times Media.".He also dismissed suggestions that his strategy is to clean up the company which owns the Sunday Times, Business Day and Financial Mail and then sell it on for a profit. At least for the moment he has swapped his investment banking cap for an operational one: " I am not planning to flip Times Media. I want to build it. Got some interesting items in the pipeline. You seen our M-Power acquisition?".The acquisition of 65% of Mpumalanga-based M-Power illustrates a desire to grow in radio. To this end TMG recently hired radio veteran Tony Mallam, fresh from successfully launching Cape Town's newest radio station Smile FM..Bonamour, who previously worked at Brait, is also the executive chairman and founder of investment company Blackstar. With a share price that has barely moved in the past year, it offers a low-cost entry into Times Media. Bonamour says: "Blackstar is very cheap so I have been buying back shares. Its portfolio is solid, cash generative and dividend paying. I have also de-geared TMG – we are well positioned."
