Malaysian publishing company Blu Inc Media is ceasing operations today, ending its print and digital publications. In a letter to employees seen by A+M, CEO Azliza Tajuddin explained that the business has already been under “tremendous challenge from digital disruption” over the past few years.
While it has made increasing investment to build its digital capabilities, it remains unclear if Blu Inc Media has gained sufficient traction while the losses continue to increase, she said.
“With the current Movement Control Order to contain COVID-19, the losses continued even more for the months of March and April, and this trend is expected to continue for the next few months. It is uncertain that we will be able to see any light at the end of the tunnel,” she said, adding that the decision was made by the board of directors with a heavy heart.
Azliza has appointed Jolston Ng and Faizal Hadi as GM, together with Shireen Goh, Bowen Tee and Connie Lee of the accounts department, as well as Habibah Muhammad of the human resource team to assist with “the unfortunate and painful process”.
All employees, except for these few individuals, will be contacted separately regarding their status of employment soon. “We thank you for your service to Blue Inc Media and wish you all the best in your future endeavours,” she added in the letter. A+M has reached out to Blu Inc Media for comment.
Among the list of magazine titles Blu Inc Media publishes include CLEO, Cosmopolitan, Female, Her World, Home & Décor, Marie Claire, Shape and The Peak. The company has been around for about 40 years and was set up as a joint venture with SPH Magazines in Singapore.
Separately, The Edge Media Group also recently folded The Edge Financial Daily as it was unable to survive the double onslaught of the shift to digital news and the current lockdown of the economy due to the COVID-19 pandemic.