Media24 to Shutter Iconic Print Titles in Major Restructuring
South Africa’s media giant, Media24, is undergoing a weighty transformation in response to the evolving media scenery. The company announced plans to close several of its long-standing print publications, including newspapers and magazines. This move reflects the ongoing struggle of print media in the face of the COVID-19 pandemic’s acceleration of the industry’s decline.
Shifting Focus: From Print to Digital
The restructuring aims to address financial difficulties by streamlining operations. Five magazines and two newspapers will cease print operations entirely. These include popular titles like the Sunday Sun and Son op Sondag, along with the Eastern Cape edition of Son. Volksblad and Die Burger Oos-Kaap will transition to digital-only formats, accessible as complete PDFs on Netwerk24.
Magazine Portfolio Streamlined
Several magazines will face closure, including Move! and the Hearst portfolio titles like Men’s Health, Women’s Health, Bicycling, and Runner’s World. However, the popular DRUM magazine will continue as a digital-only publication. Other remaining monthly magazines like Fairlady, SARIE, and True Love will be outsourced and published less frequently.
Community Press Restructuring
The restructuring also impacts community newspapers. Media24 plans to close four publications in KwaZulu-Natal and consolidate others. Noordkaap and Kalahari Bulletin will merge into Noordkaap Bulletin, while Kroonnuus and Vrystaat Nuus will combine to become Vrystaat Kroonnuus. The Theewaterskloof Gazette will be incorporated into the Hermanus Times.
Job Losses Expected
This shift will unfortunately result in job losses. Media24 estimates that around 510 positions will be affected, primarily within the print media and distribution divisions.
Digital Future Takes Center Stage
Media24’s CEO, Ishmet Davidson, emphasizes the company’s commitment to a digital future. News24 and Netwerk24 platforms are experiencing significant growth, with News24 averaging 1.6 million daily unique users in 2023, a remarkable 63% increase year-over-year. This move underlines the media industry’s ongoing transformation, where digital platforms are increasingly dominant, leaving traditional print media facing significant challenges.
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