Khanyi Dhlomo’s Ndalo Media prepares to shut down
The media company that produces Destiny, Destiny Men and Elle magazines will close its doors at the end of January 2019
The media company that produces Destiny, Destiny Men and Elle magazines will close its doors at the end of January 2019.
According to SowetanLIVE, staff at Ndalo Media have not been paid for the month of November and it seems unlikely they will receive their December salaries any time soon.
The company, owned by Khanyi Dhlomo, who has extensive experience in the media industry, has been struggling financially since about 2016.
Ndalo Media reportedly owes CTP Printers more than R13m for work done since 2016.
A source provided SowetanLIVE with an audio recording in which Dhlomo is said to be confirming the closure.
She said: “Given just where we are and the various conversation’s we’ve had, I’ve decided to close down this company effective as of the 31st of January next year .”
The news comes at the tail of a year that has seen media companies planning to shed jobs, jettison titles or shut down.
Businessman and former government spokesperson Mzwanele Manyi bought the Gupta-owned The New Age newspaper, and the news broadcaster ANN7 in 2017. Despite rebranding both, the newspaper and broadcaster were eventually closed in 2018.
Cash-strapped state broadcaster SABC said in 2018 that planned job cuts were likely to affect close to 1,000 permanent employees and 1,200 freelancers. A clash between the board and communications minister Stella Ndabeni-Abrahams over the move was apparently the reason behind the resignation of three board members earlier in December.
A fourth board member, Khanyisile Kweyama told Business Day that she resigned for other reasons.
In October the Independent Media group confirmed that it was restructuring, but did not say how many jobs will be affected.
Also in October Associated Media Publishing (AMP), announced that the last issue of the SA version of lifestyle magazine Marie Claire will be published in December.
AMP, which also publishes Cosmopolitan, Good Housekeeping and House and Leisure, said it would “redeploy” the magazine’s staff “to other parts of the company as it continues to build its business”.
In November Media24 CEO Ishmet Davidson announced that the company would be embarking on a restructuring process at its digital division, 24.com.
“Any job losses would be kept to a minimum,” he reportedly said at the time.
With Staff Writer