Australian tycoon sells Phnom Penh Post to Malaysian investor

PHNOM PENH, May 5 (Xinhua) -- Australian tycoon Bill Clough announced on Saturday that he had sold the Post Media Co., Ltd, which includes daily English-language Phnom Penh Post and Post Khmer publications, to Malaysian investor Sivakumar G. in an undisclosed sum.

Bill, who is chairman and publisher of the Post Media Co., Ltd, said in a statement that Siva is a well respected newspaper man, with an experienced journalist background, and represents a strong investment group from Malaysia.

"The recent times have been a challenge, as the worldwide decline in market share for newspaper advertising has also been felt here in Cambodia," he said in the statement.

The Phnom Penh Post was founded by American Michael Hayes in 1992. Bill purchased the bimonthly English-language newspaper from Michael in 2008, and immediately launched the current daily English-language edition and published daily Post Khmer edition a year later.

Currently, there are two daily English-language newspapers in the Southeast Asian country. The other is Khmer Times, which is owned by Malaysian businessman T. Mohan. Enditem