Mail & Guardian may be sold - report

Cape Town - The Mail & Guardian newspaper has put itself up for sale, the Daily Maverick reported on Monday. 

According to the online publication, the weekly newspaper is considering six to seven offers to purchase it.

Quoting Mail & Guardian's CEO Hoosain Karjieker, the Daily Maverick's Greg Nicholson reported that Deloitte was managing the sale, and the company’s board had met on Monday morning to discuss the offers.

Fin24 could not independently verify the sale. 

Karjieker told the publication that the Mail & Guardian could even have a new owner within a week, but added there were no guarantees.

According to the Mail & Guardian's website, the newspaper belongs to M&G Media Limited, which is 77.69% owned by Zimbabwean publisher Trevor Ncube.

"A 10% share each is held by the M&G Staff Share Trust and Media Development Investment Fund and the remaining 2.31% in shares is attributed to other minorities," states the website.