News24 is a privately owned South African news organization founded in 1998. Its primary business is the production and distribution of broadcast media. As of 2023, the company employs approximately 70 people and is headquartered in South Africa.
On May 3, 2024, reports indicated a significant increase in rental costs and property investment in Cape Town’s Central Business District, with rental prices rising almost 30% and property development values exceeding R9 billion. The South African Reserve Bank maintained the interest rate on an unspecified date, despite inflation cooling. Three interest rate cuts occurred this year, and five since September 2024. On an unspecified Friday, Trade Minister Parks Tau met with US Trade Representative Jamieson Greer to discuss a deal to reduce US tariffs on South African goods. Media24 and Novus successfully defended against a legal challenge to the sale of Media24’s logistics business and community newspapers, which occurred last year. The Competition Appeal Court rejected an appeal from Capital Newspapers and Caxton publishers concerning the Competition Commission’s approval of the transaction.
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