Media freedom must be upheld

The proposed Protection of Information Bill and proposed Media Appeals Tribunal will result in more corruption and secrecy, the cost of which will be borne and felt by ordinary citizens. It is important to speak out against these proposed curbs on media freedom.

This was the key message to shareholders during his chairman's address.

Gerwel noted that while the print media industry is facing economic challenges, there are also political developments posing threats to the democratic environment in which a free press operates and flourishes.

"I can understand if the general populace turns out to be quite indifferent to the threats posed by these proposed measures. Poverty and unemployment are more pressing issues to the majority of the population than threats to freedom of expression.

"Not luxuries that can be disposed of"

"Freedom of expression and free media are, however, not luxuries that can be disposed of. It is exactly the poor, the marginalised and the vulnerable that are ultimately protected against the excesses of and exploitation by the powerful through a robust and an unfettered media."

He noted that the proposed measures posed a threat to the protection that a free media and press have until now provided in democratic South Africa.

"We may acquiesce in these first attempts at limiting freedom because we think we understand what 'the movement' is trying to achieve. The erosion of freedom is, however, an irreversible process. What comes next, and next, and next? And where do we land up in the end?

"Of course, the media has to get its house in better order. We do have measures for self-regulation and recourse. What the current debate may have done is to have us re-examine the efficacy of those measures. And I commit this company to do exactly that, as part of our industry. It has been done in other democratic countries, and you can hold me accountable to that commitment.

Company shows growth

Gerwel reported that the company's magazine division performed well despite challenging conditions and has grown both its advertising and circulation market share. Solid performance was also achieved by the emerging market newspapers Daily Sun, which retained its position as Africa's largest newspaper, and Son, the largest Afrikaans daily newspaper in South Africa. The company's book publishing business had a challenging year with educational publishers impacted by reduced spend from government education departments. 24.com, the company's internet publishing business, increased its user base by 34% across its network of sites.

"Given the impact of the global economic recession on profitability, the value of Welkom Yizani shares did not grow as expected. However, the board felt that a dividend has to be declared, even though it is not as much as last year's dividend," he said. Media24 Holdings declared a dividend of 28.9 cents per share for its Welkom Yizani shareholders.