Johannesburg, South Africa. According to Reuters, South Africa’s government-run Independent Broadcasting Corp. yesterday approved the sale of two state-owned radio stations to the private sector. The stations were sold to Newshelf, which is partly owned by Primedia, owner of the private Johannesburg talk-station Radio 702.
The stations involved in the sale are Radio Jakaranda, Pretoria, sold for $14 million (US); and the highly profitable Radio Highveld station, which serves the Johannesburg commercial center, sold for $65 million (US).