MY : Star Media Group Bhd - It’s not the economy

Star Media Group’s 1Q21 core net loss covered 93% of our full-year forecast, and 86% of consensus’. Print-based revenue plummeted sharply, it said. Star pinned the blame on the economy’s “softness” and the pandemic. We demur; Star’s print business is no longer tenable when digital portals are rife. We see three feasible prescriptions: have a holistic transformation, dabble in a consolidation, or take the company private.

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