Utusan Melayu (M) Bhd executive chairperson Abdul Aziz Sheikh Fadzir today claimed Utusan Malaysia will "live on" as a firm linked to tycoon Syed Mokhtar Albukhary planned to launch a new publication using its printing licence.
On Monday, it was revealed that Aurora Mulia Sdn Bhd, a firm linked to Syed Mokhtar, had acquired a 70 percent controlling stake in Dilof Sdn Bhd, the holding company for Utusan's printing licence.
However, Syed Mokhtar's acquisition is specific to Utusan's licence and not the Utusan Melayu Bhd group as a whole which is unable to pay its debts, owing employees several months salary and which has begun voluntary liquidation.
"Utusan will live on. We are liquidating the holding company but the ownership of the printing licence (has) been acquired by Aurora Mulia and they will relaunch publications in the near future," Abdul Aziz was quoted as saying by The Edge Markets.
It is unclear if the new publication under Syed Mokhtar will use the Utusan name or a different one.
However, the fate of some 800 Utusan staff remains unknown.
Abdul Aziz was asked in the report if the new publication will take them in but he said this was up to the owner of the new publication.
Following the acquisition, Dilof was renamed as Media Mulia Sdn Bhd.