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Caxton appeals Media24’s $2.5 million restructuring plan, citing risks to media diversity, rural access, and competition in South Africa’s shifting print landscape.
This not only cements Moolman’s position among South Africa's wealthiest investors but also highlights his significant influence in the media industry.
This surge is driven by the sustained rise in the shares of the leading publisher of books, newspapers, and magazines on the Johannesburg Stock Exchange (JSE).
This gain brings his total holdings to nearly $130 million, reinforcing his position as a leading figure in South Africa's media industry.
Profit fell from R751.88 million ($42.39 million) in 2023 to R657.36 million ($37.07 million), driven by rising costs, and subdued consumer spending.
This setback comes after a previous gain of $5.6 million recorded between April 3 and May 20.
As Caxton’s CEO and co-founder, Moolman holds a 51.84-percent stake in the company, equivalent to 186,262,725 shares.
This recent boost follows a period of decline between Feb. 6 and April 18, when Moolman’s stake in the company fell by R146.85 million ($7.66 million).
Moolman’s stake in Caxton & CTP Publishers has seen a decline of $7.66 million over the last 72 days, signaling waning investor interest in Caxton on the JSE.
His astounding rise from an entry-level position to a key figure in the media tells a story of resilience, determination, and commitment.