South Africa: Competition Commission Rubber-Stamps Media24 Sale to Novus

31 October 2024
Daily Maverick (Johannesburg)
By Neesa Moodley

The focus will now be on enhancing the content of Media24's digital news brands, News24 and Netwerk24.

Following a stamp of approval from the Competition Commission this week, Media24 has confirmed the sale of its media logistics operations, On the Dot, and its community newspaper portfolio (including Soccer Laduma/Kick Off) to Novus Holdings.

Raj Lalbahadur, interim CEO of Media24, says the transaction will be implemented immediately and Media24 will now focus on concentrating its investments in and enhancing the digital content of its two digital news brands, News24 and Netwerk24.

"These range from further elevating the quality of journalism and streamlining publishing to deliver trusted news faster, to introducing personalisation and expanding enriched content," he said.

The final publication dates for the last of the printed newspapers - Beeld, City Press, Daily Sun and Rapport - the PDF editions of Volksblad and Die Burger Oos-Kaap on Netwerk24 and for SNL24 operating as a hub will be 31 December 2024.

From January 2025, Daily Sun will operate as a standalone, free-access news website and Rapport and City Press will reside at Netwerk24 and News24 respectively as digital-only brands at the core of the Sunday content offering.

Beeld, Volksblad and Die Burger Oos-Kaap readers and subscribers will...

Read the full story on Daily Maverick.

Tagged:
Copyright © 2024 Daily Maverick. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.