Sapa to close shop

2015-02-05 16:59

Johannesburg - The South African Press Association (Sapa) will send out its last story at midnight on 31 March, the board said on Thursday.

"After the disposal of the assets the company will be liquidated and its operations will cease on 31 March 2015," chairperson Minette Ferreira said in a statement.

Since Sapa, which has been in existence since 1938, was a special category non-profit company, it could not be sold off.

Ferreira said Sapa's board of directors met last week and confirmed that the decision, taken last September and by the members' AGM on 27 November 2014, to wind up the news agency as a non-profit company, had to be implemented.

The board appointed Nkonki Incorporated, an independent firm of auditors and financial advisers, to help Sapa close shop.

The board said three parties, Gallo Images, KMM Review Publishers, and Sekunjalo Investments Holdings, had expressed an interest in setting up an operation on similar lines as Sapa.

"In the period since September, the parties had each presented their proposals for the establishment of a commercially based content-generating and syndication service business and at last week's meeting provided updates on their original proposals," the board said.

"Nkonki is evaluating these proposals. The board, through Nkonki, has now entered a process of calling for bids for the assets of Sapa."

Ferreira said the board intended "ensuring the interests of all Sapa employees were correctly and meticulously attended to.

"In addition, current subscribers would in due course be briefed on the plans and would be approached directly by the operators of the new syndication business," she said.

  • Bob Van Wilder - 2015-02-05 17:05

    bye sapa, bye electricity, bye water, bye freedom of speech ... viva no education! viva comrades viva!

      Jeff Baxter - 2015-02-05 17:17

      Viva the school arsonists!! Brainless Dolts.

      Evans Choene Moswete - 2015-02-05 18:10

      Linking everything to the ANC is just ridiculous now. Say something relevant about the article and comment on the related articles

      Peter Ryan - 2015-02-05 18:22

      @Bob, you forgot a couple... bye bye Post Office bye bye SAA!! VIVA ANC!! VIVA

      Us3rname - 2015-02-05 18:56

      For me the point is "Bye bye everything!" You have to look somewhere to find the cause. You usually start with "Who is in charge?" The ANC placed us in the position we are today through 20 years of poor governance, lack for foresight, no interest in real pressing issues that affect the general public of the country. Looking from an economical perspective, conditions are very poor for any company or NPO to thrive in this country.

      Jeff Baxter - 2015-02-05 21:53

      Viva the school arsonists!! Brainless Dolts.

  • Geoffrey Tumber - 2015-02-05 18:25

    #Evans The truth hurts does it?

      Owen George West - 2015-02-06 05:20

      Evans in the previous regime people couldn't speak out or they would be locked up. Now that people have the freedom of speech we see the hurt, the stupidity and racism in them. With all this hate speech we are going no where. What we need is constructive critic and respect for opposing views before that freedom of speech becomes like the past.

  • Braam Compion - 2015-02-05 18:27

    Viva viva anc....its a good storey to to go from 2015 back to 1652 in 20 years.....what a good storey....goverment os showing they can go backwards....all the way when Jesus walked the earth

  • IAMBYRONJASON - 2015-02-05 18:42

    Who is news 24 Gonna get their info from now

  • Mmaki Malepe - 2015-02-05 18:58

    It is unimaginable to figure out how the press media would taste like without sapa, or it's just about fear of the unknown world of press thereafter.

  • Sibusiso Desmond Mabunda - 2015-02-05 20:07

    Linking ANC and Zuma to this it just shows that people, especially white South Africans, hate the current government with passion especially since it's a black government.

      Trevor Martin - 2015-02-05 20:29

      Hate to have no electicity for which I pay.Hate to pay R28000 to SARS for not submitting tax returns prior to my retirement in1997 although PAYE was deducted from my salary.This is 18 years ago and is only now being deducted from my monthly pension.

      ivan.kraemer - 2015-02-05 21:59

      Hating the ANC of today, does not mean hating blacks you fool. There are whites inside this ANC government as well. You just trying to play the typical race card. Guess what? Less and less people (black, white or other) are falling for this any longer. The facts are: lack of service delivery, Eskom, SABC, SAA and so many Metro or Municipality failures, corruption, wastage and many more failures are the reason that people cannot stand the current ANC.

      Jan van Niekerk - 2015-02-06 20:14

      Who hates black people? Is it not the ANC that kills black babies? Is it not the ANC that brought us abortion?

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