Commenting on the move, Media24 Magazines CEO John Relihan, said, “We have made tremendous progress with the title in the last 18 months. However, we've also realized that the subscription-based Reader's Digest business is not a perfect fit with our business model which is predominantly retail”.
Walter Beyleveldt, MD for Reader's Digest Australia, said: “Reader's Digest Australia have been running the Reader's Digest Books and Home Entertainment (BHE) business in South Africa for the past year and we believe we'll be able to unlock many synergies in the South African business when we add the magazine to the portfolio.”
The Media24 Family Magazines advertising sales team will continue to sell advertising space in the magazine until September after which the reins will be taken over by two well-known Reader's Digest stalwarts. John Annandale, Advertising Director of the South African edition from December 1999 to October 2005, will once again be bringing his passion and understanding of the brand to Johannesburg-based clients. Michéle de Chastelain, with Reader's Digest experience spanning 22 years, will service the Cape Town, Eastern Cape and KwaZulu Natal markets.
Associate Publisher-Australia and South Africa, Anthony Rice, says, “I believe we now have one of the most experienced and creative sales teams in South Africa working with us. Combine that with some of the innovative ways we intend to go to market and the best produced edition of the magazine worldwide, and smart advertisers should be taking another look at us.”
“This is an iconic, well-established brand in South Africa and we foresee a positive future for the magazine in South Africa,” concluded Relihan.
