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'Bona' & 'Rooi Rose' publisher Caxton to stop magazine production

The board of directors of Caxton and CTP Publishers and Printers Limited (CAT) on Tuesday announced that it has begun a process of withdrawing from magazine publishing and associated businesses.

FILE: Bona magazine. Picture: BonaMag/Twitter.

JOHANNESBURG - Popular and long-running magazine titles such as Bona, Rooi Rose and Garden & Home face the fate of many other magazines that have had to completely stop production as its publisher closes its magazine division.

The board of directors of Caxton and CTP Publishers and Printers Limited (CAT) on Tuesday announced that it has begun a process of withdrawing from magazine publishing and associated businesses.

The business also publishes Country Life, Essentials, Food & Home, People, Vrouekeur, Woman & Home and Your Family.

CAT said its decision was informed by the steady and continuous reduction in the overall amount of ad spend being allocated by advertisers to the magazine media sector as well as the decline in circulation revenue.

This has been further exacerbated by the negative impact of the recent COVID-19 lockdown on general economic activity in an already tough economy and industry.

"The high level of cancellations of advertising in the period leading up and over the lockdown period has already had a major impact on trading aggravated by the concern that this revenue will be permanently lost and will place serious extra pressure on the magazine business and the group as a whole," CAT said.

"As such, the significantly reduced levels of revenue exacerbated by the potential long-term impacts of the COVID – 19 combined with reducing circulation numbers are insufficient to sustain the business in the short and long-term."

There may be a glimmer of hope, however, after the group said it would be keen to engage with any other parties and publishers who would be interested in taking over any of its titles.

Last week, Associated Media Publishing (AMP), which published titles such as _Cosmopolitan _also announced it would be closing shop permanently after decades in publication.