The share price of media conglomerate Media Prima Bhd has been sliding in recent months.
Media Prima owns television stations TV3, 8TV, ntv7, and TV9; newspapers New Straits Times, Berita Harian and Harian Metro; and radio stations Fly FM, Hot FM and One FM.
These television stations and newspapers are known to present news skewed in favour of the ruling coalition.
On 7 November, the firm announced that it had implemented a so-called “Mutual Separation Scheme as part of the Group’s rationalisation and consolidation plan”. Recent reports have suggested that staff have been leaving the company.
The group is also a defendant in 35 legal suits (33 of them for alleged defamation).
Here is a snapshot of the firm’s listless performance for the three quarters to 30 September 2014. As you can see, it is not just the print media which is experiencing difficult times but also the firm’s television networks.
For those familiar with their reporting and programming, that’s hardly surprising.