Independent Media to sue Times Media Group for R300 million

PRESS RELEASE

Independent Media has instructed its legal team to institute proceedings against Times Media Group (TMG) following their refusal to retract a defamatory article, written by Ann Crotty, which was published in Financial Mail and Business Live on 23 February 2017.

Several untrue and defamatory statements were contained in the article, “Breaking the News, including allegations, innuendo and questions regarding Independent Media’s current financial standing and its ability to repay loans.

A significant portion of the article claims that Independent Media entered into deals with and sold profitable assets to an entity called Africa Media Group to the disadvantage and detriment of its shareholders.  Independent Media has no knowledge of the existence of this entity.

It is clear that the intention of the article was to spread fake news about Independent Media, portray a picture of underhandedness and to create suspicion and discomfort amongst shareholders, readers and advertisers.  The article also suggests that Independent Media has diminished in stature and would enter into deals without there being a sound business rationale.

Independent Media has questioned the integrity and journalistic ethics of the writer and the motive of those publishing entities of Times Media Group which published the article.

Since the acquisition of Independent Media in 2013, Sekunjalo Group has invested in excess of R200m in technological and digital advancements as well as skills training and development for journalists as part of its strategy to migrate the Independent Media brand from a largely print media to a multi-platform media group. This investment came with the full approval and support of the existing shareholders who will benefit from the increased value created as a result of Sekunjalo’s additional financial injection into Independent Media since the acquisition.

Commenting on the matter, Chief of Staff of Independent Media, Zenariah Barends said: “I have been at Independent since February 2014.  Prior to me joining the company and since, there has been a barrage of attacks against us, including personal attacks on Dr Survé, by the same groups and individuals. I have to wonder at the reasons for the consistent negative reporting about our company these past three years. It is certainly not normal. I would like to put it down to a case of sour grapes, as a number of our detractors were former employees at Independent Media.  But the frequency and volume of negativity and malice, suggests something more sinister.”

She added that the company will be instituting the necessary steps to sue the parties mentioned.  “We want to get on with our business and build a media house where South Africans who are interested in developing our democracy know they have a trusted source of information.”

 

ENDS

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *