Media24 Navigates Digital Shift: 66 Journalists Retained, Uncertainty for 334 Jobs Amidst Print Closures

In an era marked by rapid digitization, South African media powerhouse Media24 has recently made a significant decision that reflects the broader industry's transformation. Media24 is set to retain all 66 journalists from the four print newspapers earmarked for closure, as announced by CEO Ishmet Davidson. These journalists will be integrated into existing digital platforms such as Netwerk24, News24, and the Daily Sun website. Despite this positive development for the 66 editorial staff members, there remains uncertainty for the other 334 employees within the company.

As detailed in Media24's submission to the Competition Commission earlier this year, traditional print media is experiencing a persistent decline in revenue. To cope, Media24 has had to streamline operational costs, including staff reductions and consolidating backend operations. Compounding the challenge are the rising costs associated with digital transformation. Between 2018 and 2023, Media24's technology costs for digital news operations more than doubled, an increase that has not been entirely offset by digital subscriptions and advertising revenue.

Solidarity, a labour group in South Africa, has expressed satisfaction with the retention of the 66 editorial roles, a move partially attributed to the pressure exerted by the organization along with other groups and the general public. However, the group is adamant about ensuring fairness for the employees still facing layoffs.

Media24's transition also affects iconic titles such as Beeld and Volksblad, which will discontinue their PDF versions but maintain a digital presence. This decision has sparked reactions, including a plea from former editors to preserve the print versions, even if only temporarily.

The company has faced criticism for its handling of the closures, particularly regarding the iconic Drum and True Love magazines that catered to black South Africans during apartheid. These titles are also at risk of being shuttered, though little light has been shed on their fate aside from the confirmation of the 66 retained jobs.

Amidst these changes, On the Dot, Soccer Laduma, and community newspapers are set to be sold to Novus Holdings subject to Competition Commission approval. Davidson has affirmed that no restructuring or title closures will take place until they receive the green light from the Commission, expected within three months or by the end-of-October deadline.

Media24's ongoing consultations and decisions represent a significant moment for journalism in South Africa, as the industry navigates the complex terrain between heritage print and the demands of the digital age.