KUALA LUMPUR: The Edge Media Group has decided to shut down its news portal The Malaysian Insider (TMI) after midnight today.
According to a statement posted on the online The Edge Markets, TMI editor Jahabar Sadiq said the shutdown was for commercial reasons.
“The Edge Media Group has decided to shut down The Malaysian Insider from midnight today, for commercial reasons. Perhaps it is fitting that we go offline at the start of the Ides of March,” he said.
According to sources at the news portal, there will be a meeting with the management today at the TMI headquarters in Petaling Jaya with all 59 staff.
Meanwhile, it was reported that The Edge Media Group chief executive officer (CEO) Ho Kay Tat mentioned that the company had suffered RM10 million losses in 20 months since acquiring TMI in June 2014.
On 25 Feb, the country’s Internet regulatory body Malaysian Communications and Multimedia Commission (MCMC) blocked access to The Malaysian Insider (TMI) news portal.
MCMC said the ban was imposed following contents published by TMI that were allegedly in violation of Section 233 of the Communications and Multimedia Act 1998. – Bernama