The transaction also received approval from the Competition Tribunal of South Africa and Tiso Blackstar Group SE shareholders in the United Kingdom in October. This has paved the way for a new era of this media group headquartered in Parktown, Johannesburg.

Lebashe chairman Tshepo Mahloele says, "We are in it for the long haul. We want this new entity to focus solely on protecting and building our current media assets in South Africa, growing the media business across the African continent — helping our businesses to effectively navigate industry changes that are brought to bear by digital disruption and other market forces."

The business will continue under the leadership of Andy Gill and his deputy Moshoeshoe Monare.

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