One of the most influential independent South African media houses, Associated Media Press (AMP) has announced they are permanently ceasing trading and publishing its magazine titles from May 1, 2020.
In a statement released today [April 30], it was explained that the nationwide lockdown has had a devastating effect on the media house.
“The unexpected and devastating impact of Covid-19, causing the closure of printing and distribution channels, the global halt on advertising spend as well as the inability to host events for the foreseeable future, have made it impossible to continue trading, despite large amounts of personal funds having gone into AMP.
This is the most difficult decision I have ever had to make,” said AMP CEO Julia Raphaely. “For the last 38 years, AMP has been one of South Africa’s leading publishers and our titles have been part of many people’s lives. It’s a big blow for magazine media brands in South Africa as they hold a special place in our country. We never thought this day would come, but we are left with no choice.
We have a wonderful team of talented employees, as well as loyal suppliers and clients who will be affected. They have all been a valued part of AMP’s journey,” added Julia. “We are forever grateful to the people who have been involved and helped to build important media platforms and inspire millions of people across the country.”
The media house publishes popular titles such as Cosmopolitan, House & Leisure, Good Housekeeping and Women on Wheels. It was launched in 1982 by Jane Raphaely, who had a pivotal role in magazine publishing and female empowerment in South Africa. Jane passed the reigns to daugher Julia, who transformed the company to meet the challenges the entire publishing industry faced.
AMP is currently working on trying to minimise the negative financial implications this outcome will cause to creditors and staff.
Picture: Pixabay
