Last week saw the sale of the unprofitable Mail & Guardian by Guardian Newspapers Limited to Trevor Ncube who also owns the Zimbabwe Independent and The Standard. Guardian Newspapers Limited will continue to hold a 10 per cent shareholding and provide print and on-line news content to M&G.
Howard Barrell, Editor of the Mail & Guardian, said: "Trevor Ncube is precisely the kind of new owner editorial staff have hoped for. He is a man of proven courage, independence of mind and business acumen. We look forward immensely to working for Trevor."
Trevor Ncube immediately emphasised that there will be changes to ensure profitablility. "There will be no godfather any more," he said "We need to introduce a sense of commercial urgency. We are in business to make money."
Content will be made more appealing by expanding on the business and sports section.
Barrell remains editor for the time being and former CE, Govin Reddy, will be staying on as a consultant. Staff numbers will not be reduced immediately, although Ncube said "we would have to look at the head count" as he familiarised himself with the company.
Litigation costs would be reduced by checking facts more diligently and reflecting "both sides of the story".
Trevor Ncube said "The Mail & Guardian is a quality product that has a proven track record in the democratic transformation taking place in South Africa and in the continent's rebirth."
"Its distinguished past is matched only by its potential for growth. I am a strong believer in press freedom as a vital ingredient of democracy and economic prosperity."
