President Jacob Zuma's son, Duduzane Zuma, is a shareholder in ANN7 as South Africa's new, third 24-hour TV news channel on DStv.

South African president Jacob Zuma's son, Duduzane Zuma, is a shareholder with an interest in ANN7 (DStv 405), the new and third 24-hour South African TV news channel which will start broadcasting on 21 August on MultiChoice's DStv satellite pay-TV platform.and which is promising "balanced news coverage".

Duduzane Zuma holds a 45% stake in Mabengela Investments. Mabengela Investments has a 21% interest in Infinity Media which is the owner of ANN7.

Infinity Media in a statement announced the shareholding breakdown of ANN7 before the launch next week of the new South Africa TV news channel which will compete with the existing eNCA (DStv 403), and SABC News (DStv 405) which started two weeks ago and which is the SABC's second attempt at a 24-hour TV news channel.

Infinity Media is owned jointly by Essel Media (35%), Oakbay Investments, the Gupta family's investment vehicle (35%), Mabengela Investments (21%) and a further 9% has been reserved for staff and management.

Besides Duduzane Zuma's 45% stake in Mabengela Investments, the other stakeholders in Mabengela Investments are Rajesh Kumar Gupta (25%), Aerohaven Trading (15%), Fidelity Investments (10%), Mfazi Investments (3%) and Ashu Chawla (2%).

Laxmi Narain Goel will be sitting on the board of directors of Infinity Media together with Arpit Goel, Atul Gupta, Varun Gupta and Nazeem Howa.

Laxmi Narain Goel is the vice chairperson of the Essel Group and was until a few years ago the executive director of Zee Entertainment Enterprises Limited.

"As a family deeply invested in leading media products, we discussed this investment opportunity last year and there was no hesitation to go ahead," says Laxmi Narain Goel in a statement. "Thus far, things have gone very well and we look forward to a successful launch with our partners in Infinity Media."

Laxmi Narain Goel says ANN7 will have "balanced news coverage, ensuring that the interests of the ordinary people in South Africa are covered".

BREAKING. New 24-hour South African TV news channel launching on MultiChoice's DStv later in the year from Infinity Media.

A new South African 24-hour news channel will be launching on MultiChoice's DStv platform later in the year, run by Infinity Media called ANN7 standing for Africa News Network 7.

The 24-hour news and current affairs TV channel will be broadcast on DStv in multiple languages with a focus on local, national and world events.

The New Age newspaper's CEO Nazeem Howa who is a director involved with setting up the new news channel, says in a just-issued statement that "television audiences will soon have further diversity in their news choices" with the launch of the new news channel.

It comes after MultiChoice and the SABC's proposed 24-hour news channel which the SABC said would launch in September 2012 failed to materialize. The SABC's 24-hour news channel has had many failed and multiple postponed launch dates. MultiChoice would have invested millions of rands into the new channel venture.

South Africa already has the eNCA (DStv 403) channel broadcasting on MultiChoice's platform, the only local 24-hour news channel currently in operation after SABC News International folded after the channel was closed down by the SABC following millions of rands in operating costs.

The new 24-hour news channel from Infinity Media - a joint venture between Essel Media, Oakbay Investments (Oakbay Investments is the majority shareholder in The New Age newspaper) and a black economic empowerment group - has started work on what is envisioned to be the new TV news channel's studios in Midrand.

"We believe that there is a clear need for a local 24/7 news channel which is totally dedicated to regions and communities in South Africa and we are pleased to be a partner in this path-breaking venture," says Laxmi Narain Goel, Essel Media manager in the statement.

"We believe this will change the news media space in South Africa."