THE SHUFFLE at the top of New Africa Investments ltd (Nail) may put fresh life into negotiations between Nail and the Caxton publishing group for the purchase of Johnnic’s 43% stake in Caxton. Johnnic gave Nail a three-month option to purchase its stake in Caxton in early March as part of a deal to get Nail’s 7% share in MTN. Caxton’s pre-emptive rights over the deal make agreement with Nail crucial, and analysts argue that a change at the top of Nail may ease negotiations. If Nail takes over Caxton, it will form a multi-billion rand media group with interests in the Sowetan, the Citizen and Sunday World titles.