Pan-African television and multilingual news media service Africanews has been bought by the Madagascar-based Sipromad Group for close to US$20m.
The new headquarters of Africanews, previously a subsidiary of France-based Euronews NBC, is speculated to be at Abu Dhabi, a country that has become an important hub for international media.
The acquisition, led by group chairman Ylias Akbaraly, is part of a strategy to globalise the activities of Sipromad Group.
Africanews, which aims to give African people access to independent, trustworthy and relevant national, regional and international news has a newsroom with about 30 journalists and a team of 55 technical staff.
According to Sipromad, the deal will be finalised by the end of July.