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Fusion Capital buys stake in Nairobi evening paper
Xtra Publishers began operations in March and now has a circulation of 30,000 copies per day. Photo/FILE
Fusion Capital, a private equity and investment firm, has bought into the media industry by acquiring a minority stake in Xtra Publishing Limited, the publisher of a free evening daily newspaper, X News.
Fusion said it bought a 40 per cent stake for Sh125 million, which roughly values the media company at Sh313 million.
