Media24-Novus Print Deal Approved by Competition Appeal Court
-
October 30, 2025
-
In 2024, Novus, a commercial printing company, sought to purchase Media24’s community newspaper portfolio, as well as the Soccer Laduma and Kick Off titles, and its media distribution business OntheDot (the “businesses”). The attorneys to the merging parties, ENS, engaged FTI Consulting to provide independent expert economic analysis on the competitive effects of the transaction.
Our Impact:
- In October 2024, the South African Competition Commission approved the merger between Media24’s businesses and Novus, subject to certain conditions.
- Capital Newspapers and Caxton & CTP Publishers and Printers (“Caxton”) appealed the approval to the Competition Appeal Court (“CAC”), citing both competition and public interest concerns.
- The first part of the appeal, an urgent interdict to stop the implementation of the merger, was unsuccessful, and the CAC ruled against Caxton in December 2024.
- The second part of the appeal, relating to the merits of the case, was decided in September 2025, when the CAC agreed with the merging parties’ submissions that the transaction does not substantially lessen competition, and accordingly dismissed Caxton’s application with costs.
Our Role:
- FTI Consulting prepared an expert economic report assessing the competitive effects of the proposed transaction, dated August 2024, which found that the proposed transaction was unlikely to result in any merger-specific substantial lessening of competition or harm to the public interest.
- During a lengthy investigation phase, we assisted the merging parties in responding to numerous requests for information from the South African Competition Commission.
- In response to the appeal by Caxton against the Competition Commission’s approval of the transaction, FTI Consulting prepared a further expert report in March 2025 to address the economic issues raised in affidavits submitted to the CAC.
Published
October 30, 2025
Key Contacts