A company linked to Syed Mokhtar Al-Bukhary will soon be the majority owner of the company which holds the printing permits for Utusan Malaysia and Kosmo.
In a statement yesterday, Utusan Melayu (Malaysia) Bhd said it will dispose of a 70 percent of its wholly-owned subsidiary Dilof Sdb Bhd to Aurora Mulia Sdn Bhd.
"This is to ensure that (the indelible mark of) the 80-year-old Utusan Malaysia is not buried and the publication of the 15-year old Kosmo continues," said Utusan Melayu Bhd in a statement.
Over the past year, Aurora Mulia has aggressively expanded its shareholdings in Media Prima Bhd in which it now has a 31.22 percent stake.
Not much is known about Aurora Mulia apart from that Syed Mokhtar's son, Syed Danial is among its directors.
Unofficially, Syed Mokhtar is en route to becoming the biggest media asset owner in the country.
He is believed to be the owner of TMR Media Sdn Bhd which publishes the business newspaper The Malaysian Reserve.
Several companies linked to Syed Mokhtar are also believed to be shareholders in Utusan Melayu.
Media Prima is a media conglomerate which publishes newspapers, owns four free-to-air television stations, produces web content on many platforms, owns a production studio and has an outdoor advertising company, among others.