SANEF concerned that Media24 is considering retrenchments, closures and reduced frequencies of its operations
July 7, 2020
The South African National Editors’ Forum (SANEF) is dismayed to learn that one of the country’s biggest multiplatform media companies will be retrenching hundreds of journalists, due to the negative impact of COVID-19.
SANEF notes with deep concern the statement by Ishmet Davidson, CEO of Media24, that 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”.
Davidson further stated that even with a return to pre-COVID-19 economic levels, the impact of the pandemic on print media operations will be unrecoverable. As a result, the company’s planned interventions are expected to affect around 510 staff members (with a proposed reduction of close on 660 positions) out of a total staff compliment of 2 971, largely across the print media and distribution divisions.
The company’s move will lead to the closure of some magazines, and others will be moved to digital platforms or outsourced. Media24 plans to close Move!, and the Hearst portfolio (Men’s Health, Women’s Health, Bicycling, Runner’s World); publish DRUM in digital format only. And it will outsource the editorial production of the remaining monthly portfolio including Fairlady and SARIE amongst others. Further, they plan to reduce the frequency of their monthly magazines to six issues per year, and eight issues for tuis/home, SA Hunter/Jagter and Man Magnum.