I posted a piece about the difficulties faced by Independent News & Media's various operations around the globe. Now comes this report, in The Times of Johannesburg, that casts light on the specific problems at its South African division.
The group, which publishes titles such as The Star, Pretoria News and The Cape Argus, saw its sales fall by 9.5% to R2.4bn (£19m).
Wadim Schreiner, managing director of the media monitoring company Media Tenor, said that INM would have to cut costs. Its South African newspapers were too broad in their audience targeting and were therefore losing advertisers' confidence.
Khulekani Dlamini from Afena Capital pointed out that that print media was consistently losing market share to online. He said: "Internet advertising revenue in developing markets is growing by levels around 50%."
