South African papers hit by slump

Naspers, the South Africa-based company regarded Africa's largest media conglomerate, plans to cut 10-20% of the jobs at its South Africa newspaper division as advertising slumps, according to three company employees. Some of the company's papers, which include the Afrikaans-language publications Beeld, Die Burger, Volksblad and Rapport, have been hit by falling circulation amid an economic slump. (Via Bloomberg)