KUALA LUMPUR, April 30 — Magazine publisher Blu Inc Media Sdn Bhd has ceased operations due to challenges arising from the digital disruption and Covid-19, after almost four decades of operations.
It’s CEO Datuk Azliza Tajuddin in a statement today said that due to falling revenues and an uncertain future the company has been forced to shut down.
“Our business has already been under a tremendous challenge from digital disruption over the past few years.
“While we have made increasing investment to build our digital capabilities, it is still unclear whether we have gained sufficient traction while the losses continue to increase,” said Azliza.
Blu Inc Media is well known for producing magazines such as CLEO, Marie Claire, Malaysian Women’s Weekly, Shape, Cosmopolitan and Harper’s Bazaar.
These magazines, along with popular local titles like Female, Her World, Glam, Eh!, Nuyou and ICON, offered premium advertisers to reach a targeted audience. The magazines were also in English, Bahasa Malaysia and Chinese.
Azliza said that due to the movement control order (MCO), not only has the company seen losses in March and April but she expected the downward trend to continue.
“It is uncertain that we will be able to see any light at the end of the tunnel,” said Azliza regarding the end of the MCO and the acclimation of people into society once it’s lifted.
“As such, it is with a heavy heart that the board of directors decided to cease the operations of Blu Inc Media Sdn Bhd with effect from 30 April 2020 which will include cessation of all its print and digital publications.”
All staff of Blu Inc Media will receive a separate email regarding their status of employment.
