Billionaire Syed Mokhtar new media mogul

Speculation has also risen on whether Syed Mokhtar(pic) is mulling a mega-merger of media players in Malaysia, putting together several key national newspapers including the New Straits Times, Berita Harian and Utusan Melayu under one umbrella.

PETALING JAYA: Media-shy Tan Sri Syed Mokhtar Al-Bukhary is the new media mogul in town, after he is believed to have acquired a major stake in the country’s largest media group, Media Prima Bhd, for about RM74mil.

Sources told StarBiz that the billionaire bought an equity interest of 11.09% in Media Prima from Gabungan Kesturi Sdn Bhd in an off-market deal on July 2. Gabungan Kesturi is wholly owned by trustee company Amanah Raya Bhd, which, in turn, is wholly owned by the government.