Leading media group Media24 has confirmed reports about the closure of major print titles due to declines in advertising and circulation.
at Media24 had independently confirmed that a decision had been taken to close the print versions of these iconic brands.will become digital-only brands.
The restructuring plans will also see media logistics company On The Dot and the community newspaper portfolio sold to Novus Holdings. “Print media globally has been suffering structural declines in circulation and advertising for decades,” said Media24 CEO Ishmet Davidson.Media24 has confirmed that Soccer Laduma is one of the 5 titles which will be ending their print edition this year.
While the rest of the titles will transition to fully digital only, Soccer Laduma is not mentioned in that list.Other announcements made by Davidson at a town hall meeting with staff on Tuesday were that the digital editions ofDavidson noted that Media24 titles in the north of the country had been on “life support for a while”.“After years of cut-backs, we’ve reached the end of cost reductions to try to save these print operations. We’ve simply run out of options.
The group added that by scrapping these print titles, Media24 would be turning its back on the community that helped to build the institution over more than a century.
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