BUSINESS NEWS - Media24 has agreed to suspend the planned closure of its newspapers City Press, Beeld, Rapport and Daily Sun and the retrenchment of journalists, editors, and other media workers.

This decision comes after concerted efforts by The Witness and Caxton CTP Limited, who highlighted the vital role newspapers play in maintaining our democratic society.

“We are delighted that our campaign has successfully halted the immediate threat to the titles and jobs,” says Riquadeu Jacobs, the chairperson of The Witness.

The closure of Media24 newspapers stems from its decision to sell newspaper distribution company On-The-Dot to Novus prompting Witness and Caxton to caution that regulatory approval was required for the merger.

“Contrary to Media24’s assertion that it has exhausted all options to save the newspapers and jobs, viable alternatives were provided,” adds Jacobs.

Media24 has now agreed to suspend the planned closures and retrenchments until the Competition Commission evaluates and decides on the merger’s merits.

While The Witness and Caxton intend to oppose the merger due to various competition and public interest concerns, the immediate suspension is a significant relief for many.

“We will make our submission on competition and key public interest considerations when the matter is reviewed by the Competition Commission,” Jacobs adds.

The Witness and Caxton have taken a firm stand against the closures and retrenchments, emphasising the essential role that newspapers play in our democratic fabric.

“We are committed to ensuring that newspapers are afforded the rightful respect they deserve in our democracy given the enormous role they play in holding power to account. We have called upon all sectors of society to reflect on the significance of these threats to the press and to the country,” says Jacobs.

Read original story on witness.co.za

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