This follows amendments to section 73A of the Competition Act, gazetted on Friday, 22 April
2016 and effective from Sunday, 1 May 2016, which creates criminal sanctions for certain
contraventions of the Act. In terms of the amendments to the Act any conduct that is found to
be collusive or cartel-like is a criminal offence.
Having assessed its exposure, and without
acknowledging any wrongdoing, Media24 has decided to take these precautionary measures
to create certainty and avoid any regulatory and legal risk.
The industry-wide practice of making available a 16.5% early settlement discount or
commission to media agencies which book advertising with Media24 properties – including
all newspapers, magazines and online platforms – has been in existence for decades. In
order to avoid legal risk or regulatory exposure, Media24 has revised all its rate cards from Sunday, 1 May
2016 and are in the process of communicating the changes to all media agencies.
New rate
cards will exclude any agency commissions or early settlement discounts.
All Media24 documentation that makes reference to advertising rates, early settlement
discounts and agency commission (including credit applications) issued before Sunday, 1 May is
nullified. Furthermore, for all advertising bookings made prior to this date where the
advert will be published from Sundaym 1 May 2016 or thereafter, revised rate cards will apply.
Media24 sincerely apologises for the short notice and inconvenience this will cause advertisers
and advertising agencies. Given the serious nature of the matter, Media24 believe these changes
are in the best interest of all parties.
If you advertise with Media24 and its teams have not yet been able to reach you please bear with
them. Alternatively please call the following heads of advertising:
- News: Ané Honiball on +27 11 259 1717 or 082 306 2699;
- Lifestyle: Craig Nicholson on +27 11 217 3082 or 083 253 2115;
- The SpaceStation: Gustav Goosen on +27 21 468 8061; or
- On the Dot: Rico Brand on +27 21 944 5576 or 082 320 6381.
For more information, visit
www.media24.com.