Media24 acquired a 50% share in the then Natal Witness Printing and Publishing company in 2000 and bought the remaining shares in 2010.
Ishmet Davidson, CEO of Media24, says, "This transaction is part of the consolidation process we embarked on three years ago to reshape Media24 in a landscape that is
increasingly digital."
"It has been a great privilege to have had
The Witness, the oldest continuously published newspaper in South Africa, in our portfolio," adds Davidson. "We are very proud of the team's continued commitment to fearlessly holding the powers that be to account and contributing to independent journalism in the region over the past 175 years."
"Likewise, the four community newspapers are deeply rooted in and trusted by the communities they serve," says Davidson.
The transaction is expected to be concluded and the business transferred to CN by Friday, 1 July — including the vast majority of staff members currently employed within the operations.
Davidson has wished them and the titles only the best for the future in their new home.
"Thank you also to our loyal readers and advertisers for their support; it was an honour to be part of our readers' lives and to promote local business for more than
two decades," Davidson concludes.
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