By Darasa Times Correspondent
The withdrawal of the South African Media 24 from Kenya’s competitive publishing market has squeezed life out of three leading magazines in Kenya – the Drum, True Love and the Move.
The South African firm which co-owned the East African magazine with Nation Media Group cited high cost of doing business in Kenya as the reason for bowing out. The firm reported drop in profits due to shrinking advertisement in magazines. However, this appears to set up for debate a Synovate (Steadman) Group finding which showed that magazine advertisement had risen by 16% in the past two years.
The East African Magazines closure follows that of other one time prolific magazines like Adam, Economic Review, Adam, Eve and Cosmopolitan which also met their sunset sooner than expected.
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