Talk on the street has it that Star Publications (M) Bhd deputy executive chairperson Vincent Lee Fook Long’s days are numbered at the media company.

Lee’s impending exit, it seems, is intertwined with the waning fortunes of the MCA, which he represents.

“It’s already expected. Many people are talking about it (Lee’s exit)... even in Star (Publications) itself they know about it,” an employee of Star Publications said, pointing to an impending change of the MCA leadership later this year.

Nevertheless, the person who takes over is likely to have his hands full and could be jittery with the uncertain prospects of the company.

For one, with the MCA at the helm of Star Publications, there is certainly a credibility issue which cannot be overlooked.

The Star is the largest selling English language daily in Malaysia and the company’s main revenue generator, accounting for something like 80 percent of its revenue, which in the 2012 financial year (FY12), was slightly over RM1 billion.

While there have been attempts to hedge its dependence on the newspaper - via a whole host of acquisitions into event management companies and a Hong Kong-based television company - these assets do not generate much revenue and profit, either due to long gestation periods or simply because meagre profits (if any) are generated.

“Many of the acquisitions which were made have not provided the much-needed buffer… so there is still a huge dependence on its flagship, The Star ,” a market observer familiar with the media industry said.

There could be more problems in store with the shift to online media getting more pronounced.

The popularity of online news portals has resulted in them sprouting like mushrooms after rain, and with all eating into the same media pie.

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