News
Media houses fund MDDA
Publish:
19 May 2009
Media24, CTP, Independent Newspapers and AVUSA; and Jacaranda FM; East Coast Radio and M-Net have joined Primedia in signing a new Funding Agreement towards the Media Diversity Development Agency (MDDA).
They have agreed through Print Media South Africa and the Agency to contribute flat fee of R1.2-million for three years and R1-million for the fourth and the fifth years of the Funding Agreement. This agreement is in acknowledgement of the challenges and uncertainties facing the newspaper industry and renews the existing Funding Agreement for another period ranging from five years (the print media), six years (some broadcasters).
For the past five years, broadcast media and print media have funded the MDDA, which has seen over 235 beneficiaries supported with about R75-million.
The Agency will allocate 90% of these contributions to broadcast media projects and print media projects and 10% to its administrative costs.
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