Media24 rumoured to be closing several print newspapers

Moneyweb has reported that Media24 may close its print papers City Press, Rapport, Beeld and the Daily Sun in October.

They add that of their print publications, only Die Burger will remain in circulation.

In the article published on Thursday, they say the decision to close them was confirmed by four employees.

However, Ishmet Davidson, the CEO of Media24, says that ‘no final decision has been made,’ and he will not comment on ‘rumours’ according to BusinessDay.

This decision reportedly comes as print media is becoming less profitable for companies to maintain.