The death of one of the leading figures in the printing industry has opened the way for Media24 to cut costs drastically in its printed media operations.In recent years, Media24 has had to close a number of its magazines due to losses. When Naspers’s interim results were announced in November, management said the print media segment of subsidiary Media24 continued to face structural declines. Print media across the globe is under pressure from digital alternatives, but analysts contend Media24 is under additional pressure due to its steep printing costs.On Thursday morning, Novus Holdings, formerly known as Paarl Media Group, announced that its chairman, Lambert Retief, had died. Retief had been involved in the printing industry since 1978 and was the first CEO of Paarl Media Group.Paarl Media Group was part of Media24 until 2015, when it was unbundled and listed on the JSE as Novus Holdings.The listing had been prompted by a move by Retief to sell his stake in Paarl Media Group to ...
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