Media24 to sell or shut down TopCar and Top Gear magazines
Media24 today announced plans to relinquish three of its international magazine licences, motoring titles TopCar and Top Gear, and weekly fashion magazine Grazia.
“The company is also considering the possible closure of two of its own monthly magazine titles – creative living title Ideas/Idees and women’s monthly Lééf,” said Media24.
Media24 CEO Esmaré Weideman said this is in line with the company’s strategy to strengthen its position as Africa’s leading digital publisher.
“We regularly review our portfolio of excellent print and digital brands – some flourish, others battle in a constantly changing media landscape,” she said.
“Motoring content has successfully migrated to the Internet and Wheels24 has become a premier destination, offering readers quality motoring content.”
Print media remains a core focus for Media24, said the company, adding that it publishes nearly 140 newspapers and magazines.
It publishes the country’s biggest newspaper, Soccer Laduma, and biggest daily newspaper, Daily Sun, it said.
Its magazine portfolio also includes Huisgenoot, YOU, Kuier, and Move! magazine.
Ishmet Davidson, head of Media24 Print Media, said staff at the affected magazines are being consulted about potential closures.
“Some of these publications may be sold, or the international titles may find new licence holders in South Africa. As a last resort, these titles will be closed.”
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