As part of the unbundling of NAIL, New Africa Publications Magazines (Pty) Limited has been sold to Cape Media for an undisclosed sum. The main asset in the company is the respected business publication, Leadership. This will increase the number of titles in the Cape Media stable to 13.
According to Andrew Fehrsen, director of Cape Media, the purchase of Leadership is in keeping with the company's profile of a high end, niche market publishing house. "We have been managing the production of Leadership on behalf of New Africa Publications Limited on a series of short contracts while the unbundling process has been underway. It is good to now be able to commit to a long term strategy."
Les Davison, financial director of New Africa Publications, said that the sale was part of an unbundling process which began in the first half of last year. "We are pleased that Cape Media have been able to purchase Leadership and continue to publish it as they have been doing on our behalf."
Cape Media is a publishing house based in the Western Cape that was started in 1997. It launched and owns all of the titles it publishes.
The cover price of Leadership will remain unchanged at R19-95. "The holder of 14 Mondi Premier Awards, Leadership challenged the establishment in the 1980s and 1990s. We are putting a powerful and talented team in place that will continue to do so now as pressure mounts on our current leaders in government, business and civil society to deliver," concluded Fehrsen.
