Via www.iol.co.za http://www.iol.co.za/business-report/companies/independent-media-to-sue-tmg-for-r300m-8190127
Cape Town – Independent Media has instructed its legal team to institute proceedings against Times Media Group (TMG) following its refusal to retract a defamatory article, written by Ann Crotty, which was published in the Financial Mail and Business Live on February 23.
Several untrue and defamatory statements were contained in the article, “Breaking the News”, including allegations, innuendo and questions regarding Independent Media’s current financial standing and its ability to repay loans.
A significant portion of the article claims that Independent Media entered into deals with and sold profitable assets to an entity called Africa Media Group to the detriment of its shareholders.
Independent Media has no knowledge of the existence of this entity. It is clear that the intention of the article was to spread fake news about Independent Media, portray a picture of underhandedness and to create suspicion and discomfort among shareholders, readers and advertisers.