Tiso Blackstar may shut The Times print edition, replace it with digital version

accreditation
(iStock)
(iStock)

Cape Town - The Tiso Blackstar Group, which owns The Times daily newspaper, confirmed on Thursday evening it is considering closing the newspaper's print edition to replace it with a digital-only daily product.

In a process that may "necessitate" restructuring and retrenchments, the company says it will replace the unprofitable print product with a digital-only daily edition, "which draws on successful models that have been implemented internationally".

"The group launched The Times print edition in 2007. Despite several changes which have been introduced to the business model over the past few years, the print product has remained unprofitable," said Andy Gill, managing director of media at the Tiso Blackstar Group.

"Changing from a print product to one that is fully digital would necessitate restructuring, and possible retrenchments," he said.

The Times is a daily South African newspaper, published Monday and Friday, with its headquarters in Johannesburg. It also contributes to the TimesLIVE website, together with its sister publication, the Sunday Times.

Gill said the Tiso Blackstar Group had engaged with staff in a consultation process in terms of Section 189 of the Labour Relations Act.

"At this stage, we are not in a position to make further comment until the consultation process has progressed," he said.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
14.33
+1.0%
Rand - Pound
19.94
+0.8%
Rand - Euro
17.00
+1.0%
Rand - Aus dollar
10.59
+0.6%
Rand - Yen
0.13
+0.8%
Gold
1,810.79
-0.2%
Silver
25.53
+0.5%
Palladium
2,661.50
-0.9%
Platinum
1,053.50
-0.6%
Brent Crude
72.89
-3.3%
Top 40
62,543
-0.3%
All Share
68,706
-0.2%
Resource 10
71,203
+1.0%
Industrial 25
86,170
-1.8%
Financial 15
13,129
+1.7%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Should pension fund members be allowed to access their savings before retirement?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, it's their money to do with as they please.
34% - 67 votes
No, more people will end up without enough savings in retirement.
36% - 71 votes
Depends on how big the withdrawal limits will be.
31% - 61 votes
Vote