Last week, news broke out that Tong Kooi Ong sold his stake of the Sun to Vincent Tan.
Lulu was very sad to hear the news, but had hoped that VT would allow the paper to run as a business continuing to give us the news that matters, and the excellent editorials from the team. That, of course, minus anything negative on Berjaya group, but Lulu can live with that...
When Lulu read this morning that a sale of the publisher is in the works.
Market sources said the asking price – RM200mil – for a controlling stake in one of the main English publications in the country might be a little steep at the moment but said this was just the start of negotiations.Lulu got a bit more hopeful.
It was believed the consolidation of the Nexnews stake would give Tan better bargaining power when negotiating a sale of the publication to new owners.
alas, Rocky's blog entry revealed today who the "new owners" may be.
There's actually more from where that comes from. The Star is expected to announce soon the purchase of 30 percent of Nexnews, for betweeen RM1.80 and RM2 per share. The plan is to place the Sun under the control of the Star. The Star's editorial bosses have been briefedsigh....
Lulu's quite devastated by the news, and she's just a reader.
What about Nades and his team? Lulu hopes and prays that somehow, Nades and his team will persevere and prevail.