Tiso Blackstar faces tough trading conditions - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The company owns several media brands; including Business Day, The Sowetan and The Financial Mail. The publisher’s revenue has been hit hard by the changing landscape in news consumption.

The Information Communication Technology Union, ICTU, has accused Tiso Blackstar of negotiating in bad faith. Several employees have been picketing from Thursday demanding a 20% wage increase, better working conditions and compulsory bonuses. The union has accused Tiso Blackstar of racism and serving their members with Section 189 retrenchment notices without consultation. It says the company is pleading poverty whereas the executives are earning massive salaries.

In 2015, the share price was at R14.80 per share. It fell by 80% to R3 per share. Its revenue from the media business has been on a downward spiral. It declined by nearly 6% in the six months ending December 2018.

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