Surekha Ragavan
Apr 30, 2020

Major Malaysian publishing house Blu Inc shuts, 200 staff laid off

Blu Inc was responsible for titles such as Harper’s Bazaar, Cosmopolitan and Cleo.

Major Malaysian publishing house Blu Inc shuts, 200 staff laid off

Malaysian publisher Blu Inc Media has shuttered, laying off over 200 staff across more than 20 print titles.

The company—one of the country’s biggest magazine houses—has been operating since 1974 and became synonymous with glossy female titles such as Cosmopolitan, Her World, Harper’s Bazaar, Marie Claire, and Shape. It also carried Malay-language titles EH! and Glam.

The company has closed down with effect from today (April 30). In 2006, Blu Inc was merged under Singapore's SPH Magazines to operate as a single entity.

From an internal memo obtained by Campaign Asia-Pacific, it is learnt that the company was already cutting losses prior to COVID-19. The memo, authored by CEO Azliza Tajuddin, reads:

We are in a period where there is little visibility on when we can see recovery from the economic turmoil resulting from the COVID-19 pandemic. Our business has already been under tremendous challenge from digital disruption over the past few years. While we have made increasing investment to build our digital capabilities, it is still unclear whether we have gained sufficient traction while the losses continue to increase.

With the current Movement Control Order (MCO) to contain COVID-19, the losses continued for the months of March and April and this trend is expected to continue for the next few months. It is uncertain if we will be able to see any light at the end of the tunnel.

Source:
Campaign Asia

Related Articles

Just Published

4 hours ago

Calls grow in Australia for restrictions on ...

As Australian doctors and medical students call for restrictions on all junk food marketing across media platforms and outlets between 5.30am and 11pm, YouGov data sheds light on what Australians truly think of the big, enticing and noisy world of junk-food advertising.

6 hours ago

APAC media new-biz rankings: Mindshare makes ...

PHD's win of the Vitasoy account in Hong Kong and retention of the brand in China helped the agency retain first place. Meanwhile, retaining the big Ford account in China helped Mindshare rise to second place.

6 hours ago

Cannes daily global podcast: Elon Musk puts free ...

EPISODE 4: Campaign's editors and journalists from around the world are hosting a daily podcast during the five-day Lions festival. In episode four, we discuss the big award wins from the third night.

6 hours ago

Elon Musk on artistic ads, 'foolish' posts and ...

The chief technology officer at X told WPP's Mark Read advertisers were 'insisting on censorship' at the time that he unleashed an expletive-led response to them.