The already bankrupt SABC was fined R31,8m by the Competition Tribunal while Primedia was fined R9,6m and Ster-Kinekor with R436,999 for price and trade fixing.
The SABC should also provide free advertising time for the smaller qualifying agencies worth R40 million a year for the next three years. A further R17 million will be paid by the SABC to the Economic Development Fund.
Nine media companies also admitted guilt including DSTV Media, Caxton & CTP Publishers, Media 24, MYV Networks and Media Market.
This follows after members of the Media Credit Co-ordinators offered a 16.6% discount for advertising costs while non-members received only 15%.
Several opinion makers believe this is another facet of the tremendous corruption that is taking place in South Africa.
Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.