Lighthouse Independent Media, publisher of Marketing Magazine, has reportedly shut down its office in Malaysia.
The company ceased publication of its Malaysian print magazines, known locally as ‘Advertising + Marketing’ and ‘Human Resources Malaysia’.
In a blog post on its website, the company said the closure was a result of a ‘deep dependence’ on online and print. Fourteen staff have been made redundant. The post read: “The Malaysia office had a deep dependence on print and online businesses and its leadership was unable to arrest the losses.”
Lighthouse opened a Kuala Lumpur office six years ago, taking on established trade news brand Adoi. Ad veteran Ham of Adoi quickly counter-attacked by launching trade title ‘Marketing Magazine’ and its website Marketingmagazine.com.my. Lighthouse named its local trade title’ Advertising + Marketing’. The post on Marketing Interactive reads: “We arrived in Malaysia with an entrenched incumbent who proceeded to use every method to try and stop us competing in a fair market way, including the most unethical tactic of trademark squatting. However in print, online and live events, we continually out performed all competitors and will continue to do so.”
Adoi wisely did not comment or remark on Lighthouse’s office closure.