Chronicle Editor
POPULAR and long-running magazine titles such as Bona, Rooi Rose and Garden & Home face the fate of many other magazines that have had to completely stop production as the publisher closes its magazine division.
The board of directors of Caxton and CTP Publishers and Printers Limited (CAT) on Tuesday announced that it has begun a process of withdrawing from magazine publishing and associated businesses.
The business also publishes Country Life, Essentials, Food & Home, People, Vrouekeur, Woman & Home and Your Family.
CAT said its decision was informed by the steady and continuous reduction in the overall amount of ad spend being allocated by advertisers to the magazine media sector as well as the decline in circulation revenue.
This has been further exacerbated by the negative impact of the recent Covid-19 lockdown on general economic activity in an already tough economy and industry. Th ere may be a glimmer of hope, however, aft er the group said it would be keen to engage with any other parties and publishers who would be interested in taking over any of its titles. Last week, Associated Media Publishing (AMP), which published titles Cosmopolitan, House & Leisure and Good Housekeeping also announced it would be closing shop permanently aft er decades in publication. – Enca
Online Reporter