Media24 pays R14m in collusion settlement
Media24 has agreed to pay a R14m admission of guilt settlement, for price-fixing and fixing of trade conditions. An eNCA report says the media giant is one of 28 media companies that were referred to the Competition Tribunal for prosecution.
It follows a 2011 investigation which found the companies agreed to offer similar discounts and payment terms to ad agencies that placed advertisements with members of the Media Credit Co-Ordinators (MCC). The report notes MCC-accredited agencies were offered a 16.5% discount, while non-members were offered 15%.
Other companies that have come to settlement agreements with the Commission are Caxton & CTP Publishers (R5.8m), Independent Media (R2.2m), and DStv Media Sales (R22.2m).
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Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
