Caxton withdraws from magazine publishing

Country Life, Essentials, Food & Home, Garden & Home, Bona among titles affected.
Image: Supplied

The Board of Directors of Caxton & CTP Publishers  & Printers Limited (Cat) announced on Tuesday that it has begun a process of withdrawing from magazine publishing and associated businesses.

“The steady and  continuous reduction in the overall amount of adspend being allocated by advertisers to the magazine media sector as well as the decline in circulation revenues has, over a number of years, significantly reduced the viability of the magazine business,” the board stated.

“Further, 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 has made this decision unavoidable.”

All the group’s clients have experienced a “significant downscaling of activities” due to the Covid-19 lockdown.

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

“As such, 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.”

As such the group decided “in principle” to close its magazine division – a difficult, but unavoidable decision in the interest of the group as a whole, says the company.

Caxton is consulting with its employees.

The titles affected are: Bona, Country Life, Essentials, Food & Home, Garden & Home, People, Rooi Rose, Vrouekeur, Woman & Home and Your Family.

Caxton is “keen to engage with any other parties and publishers who would be interested in taking over any of its titles.” Interested parties can contact Anton Botes at antonb@caxton.co.za

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COMMENTS   27

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Again, very sad….but was probably expected since online news media (like THIS website) has seen exponential increase in readers.

The Covid-19 is killing off anything within a single year (businesses and people) that were operating marginally / in survival mode the last few years.

So this means, with a heavy heart…perhaps good idea to grab the last edition of Country Life from the shelf (and frame it). Could become an art piece…either turning out to be an investment…or a museum piece.

In the meantime our leaders are flattening the curve.

TSK!

…yeah, CR said “We are saving lives”.

(…but we destroy livelihoods. The choice seems to be either C-19 death or hell on earth.)

Flatlining the economy…

Our Glorious Leader is going to miss Farmer’s Weekly

Hy kan die Landbouweekblad lees.

Hard copy magazines are old school. They were on their way out in any case, long before COVID-19. Save a tree and read online.

Unintended consequences. Going to get worse, thanks ANC. You could have done it very differently but with a collective IQ in the single figures…….

The ANC’s forte is their SQ & EQ. IQ is so last year.

En die Landbouweekblad ?

That’s a Media24 publication. Not affected.

sjoe …

I’m surprised Moneyweb lets itself be used as a sales ad.

A very scary trend. Hundreds of livelihoods up in smoke. The truth is so much depends on disposable income, our society is driven by consumer spending as has become abundantly clear from the pandemic. And when people have less and less to spend, the consequences are dire.

“Is it with publishers as with wives: one always wants somebody else’s?”

Norman Douglas (1868-1952)

How the mighty are starting to fall – especially if you are still mainly involved in the ‘’old economy’ ’of printing mainly – and beware, bankers will start fretting soon – they don’t like coal mining, old economy industries, and the Corona Virus!
Internet services (even one like CNN – fake news champions!) are wildly available now at a low cost and therefore left for the market to dictate, while the printing of ‘’school books’’ is regarded as ‘’necessity’’ and therefore dictated and managed by Department of Basic Education – in the Caxton/Novus Holdings and their empowerment partner Lebone Litho Printers dispute spat.

Cosmopolitan, House & Leisure and Good Housekeeping also gone.

A sad moment. These titles will be missed by many.

Ha! what South Africans should be * themselves about now is free media. The collapse/closure of the printed word could spell trouble. we do need an independent media source. for myself Marie Claire or Bona are not must-reads, but they keep journalists employed. uncaptured journalists are the sirens of our communities. can Caxton reduce their titles and focuses on a single title like the “You” magazine used to be read. I appreciate the community newspaper that Caxton prints and delivers for free. thank you.

Inevitable!

A world of dinosaurs struck by a meteorite that was on a collision trajectory for a long time!

How ready are YOU, your business, or your entire industry for the NEXT asteroid coming in at you?

It’s a NATURAL part of evolution to “test the species” for their fitness to remain.

Yeah – all that hard hitting journalism from Marie Claire.

It’s the publishing business, not the magazine itself. So online content will still exist, you just won’t pick it up at a retail store. Was an acceleration of the inevitable.

I feel sorry for all tose journalism student being promised a job

Nobody promised anyone a job.

At this point suicide from bankrupcies looks likely to take more lives than Covid19 in SA.

the demise of print has nothing to do with the virus

I’ve been subscribing or buying most magazines on line for a couple of years now. Got tired of all those dusty mags lying around that I thought I might read again, now I have them all neatly on my iPad. Being a compulsive magazine browser this is a sad day. However, the reality is that these were discretionary products long before Covid 19, just as our economy was in a state of collapse. This was just the final straw.

Interesting as how this Corona virus is forcing a simplification onto us, whether we like it or not.

Too much of the economic activity is built around vanity and unnecessary stuff.

End of comments.

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