M&G buys back website

M&G Media has bought back the 65% stake in Mail & Guardian Online that was sold to MWeb back in 1995.

The company said in a statement yesterday that the "long-awaited acquisition was finalised in Johannesburg on Thursday.

"The move is certain to help the website stamp its authority on the multimedia and multiplatform online news environment," it said.

Ranked as one of the top three news websites, M&G Online has been publishing online since 1994, making it the Internet-based news website in the country.

Recently the M&G Online has launched a number of other successful websites including the Thought Leader blogging platform and blog aggregator Amatomu.

M&G Media chief operating officer Hoosain Karjieker said: “This is an exciting moment for us all, as the acquisition will give us greater impetus to continue innovating in the online environment and digital journalism, and to build on the multimedia platform we already have in place.”

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M&G buys back website