FINANCIAL paper The Malaysian Reserve (TMR) and Utusan Malaysia will soon be sharing content, thanks to Syed Mokhtar Syed Al-bukhary’s 14.8% stake in the Malay daily, reports The Edge Weekly.
The report quoting sources said the content sharing between both papers will begin soon.
TMR is currently being printed at Utusan’s printing press, the report said quoting sources familiar with the two media outlets.
On another note, the same report said Syed Mokhtar is believed to have upped his stake in Media Prima Berhad through an additional 12.8% stake.
The stake was bought through Mitsubishi UFJ Financial Group, which the report said “was holding the stake for Syed Mokhtar”. The Edge said it was still trying to confirm this.
This follows the tycoon’s earlier acquisition of a 11.09% stake in Media Prima from Umno-linked Gabungan Kasturi Sdn Bhd.
The low-profile businessman will emerge as the majority shareholder of Media Prima, with 23.9%, if it is true that he is behind Mitsubishi UFJ’s block of shares.
Industry observers said the acquisition will allow the elusive businessman to inject his existing media assets into the company, in exchange for shares to gain control.