Motibhai Group of Companies officially owns the Fiji Times newspaper as of yesterday after transfer documents were signed by previous owners, Australia's News Limited and the Motibhai Group this morning.

The Chairman of the Motibhai Group, Mahendra Patel who has served on the Fiji Times Limited board for 35 years said it is a historic day for their company and Motibhai’s together with the Fiji Times will become a formidable force.

With the takeover confirmed today, Patel has also revealed that Fiji Times now has a new Publisher and Managing Director.

The new Publisher is Dallas Swinstead who was a former Executive Head and General Manager of Fiji Times in the 1970's and also a former Editor of Melbourne Sunday Press.

Patel also confirmed that after the transfer documents were signed earlier today, he and the CEO of News Limited, John Hartigan visited the staff of the newspaper company.