Iconic Newspapers to Close in October - City Press, Rapport, Beeld, and Daily Sun

Media24 is set to close the print versions of several major newspapers, including City Press, Daily Sun, Rapport, and Beeld, by October, leaving Die Burger as the sole remaining print publication. This decision, confirmed by multiple sources, is part of Media24's strategic shift towards digital media in response to financial challenges such as rising distribution costs, declining advertising revenue, and a significant drop in readership. The closures reflect broader trends in the media industry, with print media struggling to compete against digital platforms. CEO Ishmet Davidson emphasized the company's commitment to long-term sustainability and due process in this transition.

Questions answered from 5:35
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