Media24 is considering closing the print editions of five newspapers, while transforming three into digital-only brands. The proposed restructuring could result in at least 400 job losses. The planned intervention includes closing the print editions of Beeld, Rapport, City Press, Daily Sun, Soccer Laduma, Volksblad, Die Burger Oos-Kaap, and the digital hub SNL24. Rapport, City Press, and Daily Sun will be transitioned into digital-only brands.
Media24 plans to sell On the Dot, the media logistics business, and the community newspaper portfolio to Novus Holdings, subject to regulatory approvals. Die Burger and Son in the Western Cape are unaffected. Media24 CEO Ishmet Davidson said that consumer preferences had changed, with people now reading news more on their cellphones or laptops. The combined losses are projected to mount to R200m over the next three years. As digital brands, Rapport and City Press will reside at Netwerk24 and Media24, while Beeld, Volksblad, and Die Burger Oos readers will receive their news on Netwerk24. The consultation process is expected to be completed over the next three months, with September 30 as the last day of publication for the affected newspapers.
