Business Services Industry
Nexnews.com seen losing shine with aborted acquisitions, BUSINESS TIMES
Business Times (Malaysia), March, 2001 by Norzuhaira Ruhanie
Business Times (Malaysia) 03-16-2001 FORMER jewelry maker Nexnews.com Bhd, which made waves with its intention to become a media powerhouse, has lost its shine with the announcement that it has aborted a deal to buy two newspapers. Analysts said Nexnews' prospects are unexciting without Sun Media Corp Sdn Bhd and The Edge Communications Sdn Bhd.
"It might go back to its former business of making jewelry," said an industry analyst. Formerly-known as Gemtech Resources Bhd, Nexnews had signed a deal to acquire the two companies that publishes The Sun tabloid daily and The Edge weekly financial magazine. The Edge Communications also operates an online publication theedgedaily.com. Nexnews assumed its present name since August last year after its proposed...
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