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Cape Town - Hosken Consolidated Investments [JSE:HCI] has no plans to sell its 24-hour news channel, its chief executive said on Thursday, quashing speculation of an ownership shake-up at the country's private broadcaster.
"I would say the chances of HCI spinning of its media assets at this point in time are close to zero," John Copelyn told the company's annual general meeting.
HCI has been wracked by a boardroom fight that has also raised questions about media independence at its eNCA news channel, which is seen as an important counterbalance to the state-run SABC for political coverage.
Marcel Golding stepped down this week as executive chairperson of HCI and as chief executive of the broadcaster, saying he had been targeted by the board for resisting political interference into news coverage.
The company has said editorial independence was "not up for negotiation" and that its earlier suspension of Golding was due to a share purchase he authorised without board permission.
In court documents filed by Golding last week he said he had intended to make a bid for HCI's media assets.
Shares of HCI were down 2% at R150.51.
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