Media24 closing print titles as Covid-19 hogs the headlines
Staff cuts are also on the cards as the ‘devastating’ financial impact of Covid-19 on SA companies continues
07 July 2020 - 12:51
Media24 is considering the closure of five magazines and two newspapers — along with staff cuts — in a restructuring shake-up accelerated by the “devastating” financial impact of the Covid-19 pandemic.
“The pandemic has accelerated the pre-existing and long-term structural decline in print media, resulting in a devastating impact on our own already fragile print media operations, with significant declines in both circulation and advertising since April,” Ishmet Davidson, CEO of Media24, said in a statement on Tuesday...
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