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Media Prima's 2017 losses reach RM669m

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Media Prima Bhd registered a net loss of RM669.66 million in the financial year ended Dec 31, 2017 against a net loss of RM69.78 million in 2016.
However, in a filing to Bursa Malaysia today, the group recorded revenue of RM1.19 billion for the period, as compared to the preceding financial year 2016 (FY16) of RM1.28 billion.
Media Prima said revenue declined by seven percent against the previous financial year, attributed to lower advertising and newspaper sales, as the shift to digital media significantly affected the group’s traditional media business.
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