Media24 is a South Africanmass media company with interests in digital media and services, newspapers, magazines, ecommerce, publishing, television, logistics, and distribution.
Established in 2000, and owned by Naspers, the company is headquartered in the Media24 Centre, in the Foreshore, Cape Town.[1]
Background
Welkom Yizani
Welkom Yizani is a share scheme launched by Media24 in September 2006.[3] This scheme owns 15 percent of Media24, a subsidiary of Naspers Ltd. Media24 received R1.4 billion after the unbundling of Novus Holdings in 2017. At the Media24/Welkom Yizani annual general meeting it was announced that shareholders will receive a special cash dividend of not less than R14.79 per Welkom Yizani ordinary share. In addition, the board declared an ordinary dividend of 42.5 cents per share.[4]
Shareholders of Welkom Yizani accepted Media24’s cash offer to buy out all the shares at a special general meeting held on 22 January 2021. The transaction has been concluded, Welkom Yizani was delisted from the Equity Express Securities Exchange (EESE) and the scheme has been unwound.[citation needed]
Criticism
16 March 2018 Media24 agreed to pay R14 million as a settlement agreement with the Competition Commission after admitting to price fixing and fixing of trade conditions in the media industry.[5]
Publications
The Media24 Centre (previously named the Naspers building) in Cape Town, 2015
Media24 publishes across assorted mediums, under a wide variety of names, including:
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