Following a week of uncertainty about the future of South Africa’s newest national newspaper ThisDay, the newspaper’s executive director, Gbenga Oni-Olusola, has told I-Net Bridge that publication will resume in the near future.
The publication of ThisDay was suspended abruptly last Monday, and the
paper is currently dealing with its financial difficulties, he said.
Oni-Olusola, who is also the special advisor to the chairperson Nduka Obaigbena, declined to say when he expects ThisDay to hit the streets again.
“We don’t want to make the same mistakes again, so we are reassessing ourselves, restructuring and sorting out a business model.”
He dismissed speculation that the newspaper is considering shutting down amid large debts, instead emphasising: “We will be back on the streets.”
Oni-Olusola said ThisDay has attended to all internal debts, confirming that all the staff members have been paid their September salaries and will be paid their outstanding October salaries during the week.
Meanwhile, the company is also addressing its external debts: “With regards to external creditors — we intend to pay them all, that’s our priority, we’ll finalise the deal this week.”
The newspaper’s owners will continue to implement measures to cut costs, both at the newspaper and at company level.
“This week we’ll be able to announce the date of resumption of the publication. Like I said, we will be back, the management will be meeting soon,” Oni-Olusola added.
He said another press conference would be called sometime in the month to brief the media about the resumption of the publication and long-term future plans.
The press briefing which had been scheduled for Monday was postponed at the last minute. – I-Net Bridge