Take-over bid in S. Africa

Press, Volume CXV, Issue 33985, 28 October 1975, Page 17

Take-over bid in S. Africa

f.N.Z Press Assn—Copyright) JOHANNESBURG, Oct. 27. South Africa’s Liberals are worried by the news that an Afrikaner financier, Mr Louis Luyt, has put in a take-over bid for the largest group of English-language, antiGovernment newspapers — a bid described in Johannesburg as the biggest for 20 years. Mr Luyt disclosed last night that he has invited two foreigners, an American and a European, to buy a 25 per cent holding between them. It was strongly rumoured that the European will be Axel Springer, head of the Right-wing West German press empire bearing his name.

Mr Luyt told journalists that “objectivity" would be the sole concern of the English-language press in South Africa once he acquires control.

But observers here pointed out that the fertiliser magnate and financier was very close to the Government and said the future editorial policy of such newspapers as the “Rand Daily Mail,” the “Cape 'Times,” and the “Johannesiburg Sunday Times” was unj certain.

The newspapers belong to the South African Associated iNewspapers group. Informed sources said the deal will probably’ be completed within a few days. The “Rand Daily Mail” yesterday commented that if Mr Luyt acquired a majority holding in the group, “a de- ! vastating blow will have been ■dealt to the cause of the press