ICASA blocks Nail's bid to buy Kagiso Media

The Independent Communications Authority has turned down media group Nail's application to buy Kagiso Media's assets for R377m. For the deal to have gone ahead, Icasa would have had to agree to the merged group holding controlling interests in three FM stations - Jacaranda, East Coast and OFM. Mandla Langa, Icasa chairman, says that the deal was rejected on the basis of Nail not showing good cause in asking for exemption over controlling three FM licences.