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Two SA media groups fined millions for cartel conduct

The commission says that Independent Media and Caxton admitted to participating in price-fixing and fixing of trading conditions.

FILE: Members of the Competition Commission's executive committee, Nompucuko Nontombana (left), Tembinkosi Bonakele (centre) and Hardin Ratshisusu (right). Picture: @CompComSA/Twitter

JOHANNESBURG - Two South African media companies have been fined millions by the Competition Comission for cartel conduct.

The commission says that Independent Media and Caxton admitted to participating in price-fixing and fixing of trading conditions.

Caxton has agreed to pay a R5.8 million fine while Independent will cough up R2.2 million.

The commission's Sipho Ngwema says this follows a 2011 investigation, in which other media companies also offered similar discounts and payment terms to advertising agencies.

“They offered discounts to members and they coordinated the prices that they would pay for the various discounts. and also fixed the trading conditions on how the advertising agencies would benefit through the membership of the company that had been formed.”