Lighthouse Independent Media closed down their office in Kuala Lumpur on 18th February citing losses. Advertising and Marketing will no longer be published and there will be staff redundancies.
The publisher put out a statement complaining that the “entrenched incumbent… proceeded to try and stop us competing in a fair market way” when they entered the market but claimed they had outperformed their competitor. But obviously not well enough. One suspects they underestimated the strength of Harmandar Singh and his publications and the affection in which he personally is held in the local industry.
It is a tough time for print magazine publishers and it is sad to see any title disappear. We will have to wait and see if the other magazines in the stable are affected by this shock announcement.