Media24: Anticompetition case restarts in 2014

The anticompetition case against Media24 stood down on Friday until hearings resume on February 24, 2014, according to the Competition Tribunal. The tribunal had been due to hear evidence and examination on Thursday and Friday this week but these plans were abandoned due to the unavailability of some parties to the case. Media24, a subsidiary of JSE-listed media group Naspers, is accused of engaging in below-cost pricing between 2204 and 2009, which is a contravention of the Competition Act, to drive a competitor out of the market. The commission referred the case to the tribunal for hearings back in 2011. Neil Dryden, an economist employed at Compass Lexecon, will take the stand when the hearing resumes. On Friday, Naspers shares rose 0.09 percent to close at R940.