According to Caxton, this is due to the steady and continuous reduction in the overall amount of adspend being allocated by advertisers to the magazine media sector. It is also due to the decline in circulation revenues that has significantly reduced the viability of the magazine business over the years.

Caxton says that this decision is unavoidable because of the negative impact of the recent COVID-19 lockdown on general economic activity and, as a consequence, on the ability of the business to trade normally in what were already difficult trading conditions for magazine publishers.

The COVID-19 lockdown has seen a significant downscaling of activities by all the group's clients. Caxton has indicated that the high level of cancellations of advertising in the period leading up and over the lockdown period has already had a major impact on trading. 

This is aggravated by the concern that this revenue will be permanently lost and will place extra pressure on the magazine business and the group as a whole.

As such, the group says that the significantly reduced levels of revenue exacerbated by the potential long-term impacts of the COVID–19 — combined with reducing circulation numbers — are insufficient to sustain the business in the short and long-term.

In view of these challenges, the group has decided to close its magazine division. Whilst Caxtons says that this has been a difficult decision, it has been unavoidable in the interest of the group as a whole.

The company is in the process of consulting with its employees and the group wants to engage with any other parties and publishers who would be interested in taking over any of its titles.

The titles affected include:
  • Bona
  • Country Life
  • Essentials
  • Food & Home
  • Garden & Home
  • People
  • Rooi Rose
  • Vrouekeur
  • Woman & Home, and
  • Your Family.
Interested parties are urged to contact [email protected]. Any further inquiries can be addressed to Anton on 083 274 8680.

For more information, visit www.caxtonmags.co.za. You can also follow Caxton Magazines on Facebook or on Twitter.