KUALA LUMPUR, 4 May 2009: The ongoing changes to the Media Prima/New Straits Times Press (NSTP) group following the new leadership in Umno will likely see the return of the Malay Mail (MM) to its fold.
Sources say moves are afoot for Media Prima/NSTP to buy out Datuk Ibrahim Mohd Nor’s 50% interest in MM. The other 50% is held by Gabungan Kesturi Sdn Bhd, the holding company of Media Prima.
NSTP had early last year sold its 100% interest in MM for RM5 million to Dynahall (M) Sdn Bhd. Dynahall is owned equally by Ibrahim and Gabungan Kesturi.
The sources say Ibrahim, who co-owns Blu Inc magazine publishing group which publishes lifestyle magazines such as Her World, Female, Nuyou and Glam, will not be averse to selling MM back to the Media Prima/NSTP group.
They say Ibrahim, who was the head of circulation in NSTP in the early 1990s, had stepped in to buy MM only because NSTP was going to close the struggling 112-year-old afternoon tabloid.
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This article first appeared on Monday, 4 May 2009 in www.theedgemalaysia.com under the title NSTP set to take back control of Malay Mail. Used with permission.