Umno to sell its stake in Media Prima

Umno is set to sell its stake in Media Prima, the country’s biggest media organisation, according to the party’s acting president Mohamad Hasan.

Last month, the Malay-based party sold its 31.6 percent stake in Kumpulan Utusan, whose flagship publication Utusan Malaysia had previously been kept alive with Umno’s money.

“We will sell our stake in Media Prima as there is nothing much we can do. We can’t put out our own news, and we do not have board representation.

“At least it (the sale) can cover us for another two-and-a-half years,” Mohamad said in an interview with news portal Free Malaysia Today (FMT).

“Umno is a big organisation and it needs a lot of money to maintain it. Running the headquarters has substantial costs. Even paying salaries is difficult now,” he said.

Media Prime controls four television channels (TV3, NTV7, 8TV and TV9), three newspapers (New Straits Times, Berita Harian and Harian Metro) and four radio stations (Fly FM, Hot FM, One FM and Kool FM).

Umno decided to monetise part of its assets after its bank account was one of 900 frozen by MACC over transactions tied to the 1MDB scandal last year.

“I believe the defeat was a blessing in disguise,” said Mohamad, who is also known as Tok Mat.

“The parasites are now gone. We lost because we were arrogant and egotistical, and people were turned off. So now we have to lose these bad characteristics,” he said.

“People are worried about uncertainty in the economy, traders are facing problems and everyone’s buying power is weakened.

“I believe 40 percent of the people are not so interested in issues of race and religion, but rather bread-and-butter issues like the economy,” he said.

source: https://www.malaysiakini.com/news/468015


MARKETING Magazine is not responsible for the content of external sites.

The APPIES is an annual event that presents a rare opportunity for creative, media, digital and marketing agencies or brands to present their best campaigns to the industry.

This is the only event where Live Presentations meets Live Judging.

Similar to TED Talks, The APPIES is the chance for great presenters with outstanding work to show it off to some of the industry’s most important industry leaders.

This year’s winners will receive Gold, Silver or Bronze trophies for 21 categories, and 6 special Best of Best categories (red trophies) that require no submissions!

Campaign entries must have run between June 2023 to May 2024

Submissions Deadline
30th June 2024

APPIES Festival – Judging & Presentations
11th – 12th July 2024 (Malaysia)

 

Download Event PDF
Submit Entries Here




Subscribe to our Telegram channel for the latest updates in the marketing and advertising scene