Last week, Minister of Labour Fackson Shamenda announced that the company was bankrupt.
Shamenda, until yesterday when President Sata de-linked the ministry was also in charge of information and broadcasting which is now under Kennedy Sakeni, revealed that the Times Printpak, owner of the state newspaper Times of Zambia, was bankrupt and likely unable to continue operations.
This was when he was unveiling the Michael Musonda-led board of directors.
The Daily Nation reported yesterday that a serving minister in the PF government is scheming to buy out the Times of Zambia.
Reports from the Patriotic Front government reveal that Lusaka businessman GBM is the minister interested to take over the Times of Zambia.
GBM is currently enjoying unfettered access to government contracts through his businesses. He is owner of both Germine Bus Transport and GBM Milling among his business.
The PF league believe that buying-off the Times of Zambia will also give him good ground to protect his business interests and that of his associates.