AfricaBusiness & Finance

Caxton Magazine Entities up for sale before Shutdown

By Nthabiseng Sekonyela

All Caxton Magazine entities, such as Bona, Farmer’s Weekly, People, Essentials and Country life etc will soon face liquidation according to the Board of Directors of Caxton. The reality of the matter is that, even if Print Media was slowly dying, COVID-19 is now terminating all businesses that were in survival mode for the past few years.

On the 5th of May 2020, the Directors of Caxton Printing and Publishers announced that Caxton is withdrawing from magazine publishing and associated businesses. The Board of Directors state that this decision was inevitable when looking at profitability statistics; there has been a drastic and continuous decline in Advertisement investments and revenue circulation in the Caxton Magazine sector.

Another major issue was the decrease in normal economic activity due to the COVID-19 lockdown in SA. The lockdown put an undeniable financial strain on all Caxton Magazine entities. The inability to print, publish or operate at normal trade conditions has lead to a higher reduction in advertisement investors. Caxton can no longer sustain operational costs, post lockdown.

As a result Caxton has called upon all major Magazine & Publishing houses that might be interested to take over its dynamic Magazine Entity titles to contact Anton Botes via email, Caxton Magazine is currently consulting with its employees and we wish them the best of luck in these tough times.

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