Independent steps up interests in SA

INDEPENDENT Newspapers is to expand its publishing operations in South Africa through the acquisition of the consumer publications…

INDEPENDENT Newspapers is to expand its publishing operations in South Africa through the acquisition of the consumer publications group Penta. The acquisition is being conducted through a joint venture involving Independent's 58 per cent owned local subsidiary, Independent Newspapers Holdings, and a local group, SMC Capital.

SMC and Independent Newspapers Holdings are already partners as publishers of The Star and SA Times International, which is printed in London and Sydney and is aimed at South Africans overseas. No price for the acquisition of Penta was disclosed, but the SMC Independent joint venture is buying Penta from a provisional liquidator.

Penta publishes a number of consumer publications including De Kat, Tribute, Living Africa, Megalife, Big Screen and Keeping Track, and all of these will continue to be published.