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Media24 plans to cut approximately 400 jobs as part of closing five print editions of their newspaper, with plans to transition three of them to digital formats.
(The Post News) – Reputable news site Media24 is set to cut approximately 400 jobs as part of closing five print editions of their newspaper, with plans to transition three of them to digital formats.
This decision follows careful consideration amid challenges in adapting to industry changes as it plans to close its print editions of Beeld Rapport, City Press, Soccer Laduma, and the Daily Sun.
Arthur Goldstruck, addressing the Huawei ICT Editors Xchange conference in Johannesburg last week, suggested that Media24’s decision to cut 400 jobs could be linked to frequent changes in management over recent years, impacting the company’s ability to adapt and advance in technology.
Media24 is looking to transition Rapport, City Press, and the Daily Sun into the digital space. Arthur Goldstruck emphasised that artificial intelligence (AI) could enhance efficiencies, stimulate demand, and potentially create job opportunities, suggesting Media24 could have embraced AI ethically.
Media24 CEO Ishmet Davidson delivered the announcements during a town hall meeting with staff on Tuesday. ‘The last day of publication for the newspapers is expected to be September 30.
Print media globally has been suffering structural declines in circulation and advertising for decades, said Davidson. Combined with rising fixed distribution costs, this has had a devastating impact on print operations.
Davidson said that “Media24 titles in the north of South Africa had been on life support for a while. Combined losses are projected to amount to R200 million over the next three years. After years of cutbacks, we’ve reached the end of cost reductions to try to save these print operations. We’ve simply run out of options,” he said.
Davidson said the group plans to relaunch Daily Sun, currently part of SNL24, as a standalone and free e-news site’. Media24 is a well-known South African media firm and is the owner of several newspapers. Despite the closure of some newspaper editions, the history of Media24’s titles remains rich and impactful.
The Daily Sun, launched in 2002, is renowned for its dramatic storytelling and appeals strongly to the working-class readership.
Rapport, established in 1970, is a prominent Afrikaans Sunday newspaper known for its comprehensive reporting and analysis of news stories.
Beeld, another significant Afrikaans daily founded in 1974, provides extensive coverage of both local and global affairs, catering to a more affluent and conservative readership.
City Press, established in 1982, focuses on political and economic issues, providing a platform for African viewpoints and perspectives for a diverse audience.Together, these newspapers have made a significant impact on South African media and society as a whole.
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