Media companies fined for price-fixing

Two print media companies have concluded consent agreements with the Competition Commission and agreed to pay fines amounting to millions of rands after admitting to participating in price fixing and the fixing of trading conditions in contravention of the Competition Act. The two separate agreements were confirmed as orders of the Competition Tribunal on Friday.  Under the terms of its agreement with the commission, Caxton has agreed to a penalty of R5.81-million and has agreed to several remedies, including the payment of R2.09-million to the Economic Development Fund over three years.