The entire Media Prima’s revenue is just crashing to the ground. We just saw some figures which show that NST’s circulation is down to 54,000 copies a day. This includes the thousands of free copies that they handout. Their actual circulation could be much less.
Today I heard that TV3/4 has told its staff that applications for no-pay-leave for extended periods like 3 months or 6 months will not be rejected. This way the company will be saved a ton of money in wages. TV3/4 is facing a very tight situation as well. Advertising revenue is down, down, down.
The NST’s printing plant in Shah Alam (the largest in the country) has been shut down. Local Shah Alam folks say there is not even a guard to jaga the place at night. This means they are back to using the old plant in Jalan Riong in Bangsar.
Who buys old, used newspaper printing plants? The besi buruk fellow may give a good price. Media friends say that the NST has also lost many senior staff through a VSS a few months back. Dato this and Dato that have all left.
UMNO is giving a direct cash infusion every month to keep Utusan afloat. It used to be RM5 million then. Dont know how much it is now.
How much longer can TV3/4 and NST keep themselves afloat? If they too need cash, where are they going to get it?
A good question to ask now is when will they shut down for business? And this is despite the fact that UMNO is still in power.
They are doomed.