Business weekly Focus Malaysia has obtained a new owner, digital branding and marketing agency Inno Mind Works Sdn Bhd (IMW).
The staff were verbally informed of the news yesterday.
According to a source, the letters were expected to be given to the staff next week.
It was learnt that only one-third of the staff shall be retained by the new owner, while rehiring will be on a case-by-case basis.
Astro Awani reported that IMW managing director and founder Datuk Michael Yip has confirmed the purchase of Focus Malaysia, adding that it is IMW's main agenda to make a transition to the digital platform.
Focus Malaysia was founded in 2012.
According to its website, Focus Malaysia's thrust was to provide specialist coverage of companies listed on Bursa Malaysia, property news, the role of small and medium-sized businesses, and personal wealth management issues.
It also provided a platform for the discussion of macro-economic topics such as wealth distribution, sustainability and the impact of innovation and technology.
Author Info: This article was first published on The Star Online