The signs pointing to the end of the newspaper era are evident, as the media giant—Media24—considers shutting down several major print publications, including City Press, Daily Sun, Soccer Laduma, Rapport, and Beeld.
This includes the digital (PDF) editions of Volksblad and Die Burger Oos-Kaap and the digital hub SNL24.
However, the company plans to transition Rapport, City Press, and Daily Sun to digital-only publications.
Around 400 job roles could be affected by this move.
“We anticipate that the proposed restructure could result in at least 400 job losses, with 400 more positions transferring to Novus Holdings with the sale and some roles possibly needed beyond 30 September,” says Ishmet Davidson, CEO of Media24.
Additionally, the company has accepted an offer from Novus Holdings to purchase its community newspaper portfolio and On the Dot media logistics operations—with staff consultations and business transfers expected to begin this week pending regulatory approvals.
Davidson highlights the digital shift by stating:
“In South Africa, like elsewhere in the world, consumer preferences have changed. People now read more news than ever, but most prefer to do so on their cellphones or laptops and publishers have to comply with their preferences”.
“Consequently, print media globally has been suffering structural declines in circulation and advertising for decades. Combined with rising fixed distribution costs, this has had a devastating impact on print operations”.
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