Media24 announced today that it has accepted an offer from Novus Holdings to purchase its community newspaper portfolio, subject to regulatory approval.
This includes all local newspapers within the Media24 Group, including Weslander. Novus Holdings is one of Southern Africa’s largest print production companies, and currently the printer of Weslander.
However, there will be no interruption in Weslander‘s publishing schedule, and it will continue to be business as usual for this portfolio under its new ownership.
The transfer of the community newspaper portfolio will take place once regulatory approval is granted.
Media24 also announced today that it is contemplating the possible closure of the print editions of five newspapers – Beeld, Rapport, City Press, Daily Sun and Soccer Laduma – as well as the digital hub SNL24, and the digital editions (PDF format) of Volksblad and Die Burger Oos-Kaap. At the same time the company be transitioning Rapport, City Press and Daily Sun to digital-only brands.
According to the statement, the company has initiated a consultation process with affected staff at the five newspapers and SNL24.
