Naspers Mulls Options for South Africa’s Historic ‘City Press’

Naspers Ltd., Africa’s largest company by market value, is exploring strategic options for City Press, according to people familiar with the matter, a historic newspaper in the continent’s biggest economy.

Media24, a unit of the company that operates some of South Africa’s biggest digital news sites and popular magazines, is considering selling the title or closing it down, the people said, asking not to be identified because the discussions are private. The firm is in early talks with a consortium that includes local business people about a potential sale, but it’s possible a deal may not be reached, the people said.