|
Amidst talk that the Malay Mail will change hands again, it appears its forward strategy may hinge on  a free newspaper model. Businessmen Datuk Mohamed Al-Amin Abdul Majid and his partner Datuk Siew Ka Wei are poised to buy a controlling stake of 75% in Malay Mail Sdn Bhd. Redberry is coming in as a white knight because the newspaper is reeling from losses of RM7-8 million.Â
Media Prima will completely exit while Datuk Ibrahim Mohamad Nor will hold the residual 25% interest. It's unclear how much Redberry will pay but given the fact that it will assume the newspaper's almost RM11 million debt, it may not be much. Media company Redberry has the rights to advertise in the Kuala Lumpur International Airport, most of the country's major highways, many of Kuala Lumpur's buses, and in three of the city's largest supermarkets.Â
When the Asian financial crisis broke in 1998, The Star gave huge discounts to property agents and car dealers. The Malay Mail didn't and prompted the shift to The Star. Once readers moved, the Malay Mail's circulation plummeted.
Trackback(0)
 |
TrackBack URI for this entry
Subscribe to this comment's feed