Chairman refutes report on tycoon bidding for 49pc stake in BNC
KUALA LUMPUR: Tycoon Tan Sri Dr Lim Kok Wing did not make any bid for a 49 per cent stake in Bernama News Channel (BNC), said Malaysian National News Agency (Bernama) chairman Datuk Seri Azman Ujang.
He described the reports about the purported sale as merely market talk.
“The news report is mere speculation. And there’s no bidding for such a stake as reported,” he told NST Business yesterday.
Lim could not be reached for a comment yesterday.
According to a news report last week, Lim had offered RM30 million for the stake in the loss-making BNC.
BNC is wholly-owned by Bernama.
The report said once the deal was completed, Bernama would remain as BNC’s majority shareholder with a 51 per cent stake.
“The television operations are not generating enough cash to be self-sustainable, thus forcing Bernama to pump in money every month for operating expenditure,” the report quoted sources as saying.
The report said Lim was also expected to overhaul BNC’s current management team by bringing in industry experts as managers.
The deal, if materialised, would be Lim’s first venture into the broadcasting business.
BNC, formerly known as Bernama TV, is a 24-hour news and current affairs television network. It airs news programmes that are related to local and international business, lifestyle, sports and entertainment.
A television talk show on Bernama News Channel, formerly known as Bernama TV.