New joint venture to publish Cosmo SA

Media24 will not form part of the joint venture and this terminates its involvement in Cosmopolitan magazine.

“The many years of partnership with Media24 has been a happy partnership” said Jane Raphaely, chairman of Associated Magazines, “But Hearst Magazines International has been steadily converting all their international licenses into joint ventures and this is part of that process.”

According to a press statement, the new company should effectively not result in any changes to the title in SA, and there should be minimal corporate restructuring.