Kagiso Media to acquire a 20% stake in Jacaranda FM from Lagardere Group for ZAR233m.

Kagiso Media, the largest black-owned media corporation in South Africa has agreed to acquire a 20% stake in Jacaranda FM, South Africa's number 1 private radio station from Lagardere Group, a multinational media conglomerate for ZAR233m. "The transaction was motivated by continued confidence in the radio sector and, in particular, the ability of both businesses to perform under tough economic circumstances, " Mbonisi Danisa, Kagiso Media Chairman.