Tuesday, January 29, 2008

The Sale Of The Sun Has Been Taking Lulu On An Emotional Roller Coaster

and it's not even like Lulu works there.

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.
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.
Lulu got a bit more hopeful.

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 briefed
sigh....

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.

5 comments:

denzook said...

you must be in dreamland for vtan to continue news matters! he's now in deep shit..... i expect upcoming days sun will praise vtan and lingam and anwar, loh and his gang are liars and nothing but big liars!

kaki.ayam said...

emm...sad indeed...

nades has been doing a good job...

jc said...

This is a hopeless situation. Hopeless.

Pearls said...

Well, I am sad too.... But this is what happens when you offend these rich... They have the money to buy over and do what they like and that is life. Now you know why so many people want to be rich and powerful?

So, be prepared for the upcoming news of nades and gang being silenced!

wits0 said...

Surely one main purpose is to silence the views from nades and gang.