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The Commission has recommended to the Tribunal that the proposed large merger be approved, with conditions, whereby Media24 (Pty) Ltd (Media24) intends to acquire Novus Holdings Limited (Novus).

Media 24 is a subsidiary of Naspers, the holding company for a diversified multinational portfolio of media and e-commerce platforms. Media24 conducts the print media publication business of the Naspers Group. The operational printing business of the Naspers Group is indirectly held by Media24 through its shareholding in Novus. Media24’s business has historically comprised activities in print media, although it is increasingly developing digital media and ecommerce businesses.

Novus is controlled by Media 24 and is a commercial printing operation with services including printing solutions for newspapers and magazines. Novus controls several firms including Paarl Media Holdings (Pty) Ltd; Paarl Media (Pty) Ltd; and Print Media Paarl (Pty) Ltd.

Media24 does not wish to acquire or retain sole control over Novus and, accordingly, the Commission recommends that the Tribunal approve the proposed merger subject to a divestiture condition whereby Media24 will no longer control Novus. The Commission is of the view that the divestiture alleviates any competition or public interest concerns that may have been identified. Following the divestiture, Media24 will retain a non-controlling minority stake of 19% in Novus.

Issued by Competition Commission