South Africa media conglomerate, Caxton and CTP Publishers and Printers Limited‚ which owns The Citizen has increased its stake in Times Media Group (TMG) to 10.44 percent after it bought Tokyo Sexwale’s Mvelaphanda Holdings’ 7.3 percent stake in TMG.

This has made Caxton one of TMG’s largest shareholders after Coronation, UHC and Public Investment Corporation.

Caxton’s acquisition comes at the heel of Coronation’s stake increase in TMG from an average of 11 percent to 15.5 percent two weeks ago.

Mvelaphanda’s share sale marks the end of its shareholding in Times Media. However, this does not mark the end of the groups’ investment in the South African media industry as it still has shares in Moneyweb, a financial online media company where Caxton is a major shareholder.

A tipster close to the deal revealed that Mvelaphanda Holdings “has reviewed its strategic position and will focus in areas where it has a greater strategic presence…. The media space is unnecessarily and unduly politicised.”

Times Media Group (TMG) which was listed on the Johannesburg Stock Exchange last September is the owner of South Africa’s Sunday Times, NuMetro, Sowetan and Exclusive Books. It also owns half of Business Day and part of Financial mail.