Naspers subsidiary Media24 has become the fourth company accused of advertising-fee collusion to agree to a settlement with the Competition Commission. Media24 will pay a R13.8m fine, contribute R5m to an empowerment trust over three years and give 25% bonus advertising space to small, black-owned agencies, the commission said in a statement on Friday morning. In May 2017, DStv — which is also a Naspers subsidiary — agreed to pay a R22.3m fine and contribute R8m to the empowerment fund, plus offer 25% bonus advertising airtime to small, black-owned agencies. On February 16, Caxton agreed to pay a R5.8m fine and the Independent Group a R2.2m fine. Both newspaper publishers also agreed to contribute to an empowerment fund and offer 25% bonus advertising space to qualifying black-owned agencies. The investigation dates back to 2011, and according to a media release issued by the commission on February 27, involves 28 media companies. This list, however, is confusing because it does not...
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