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Businessman Buys Majority Stake in Myanmar Times

3 March 2014

The majority shareholder of The Myanmar Times, Tin Tun Oo, has agreed to sell his 51-percent stake in Myanmar Consolidated Media to local businessman Thein Tun, the newspaper announced on Sunday. Thein Tun is the owner of Myanmar Golden Star, one of Burma’s largest companies known for introducing Pepsi in the country in a joint venture with the US company in 1991. The Times’ Australian managing director Ross Dunkley had been embroiled in a public dispute with Tin Tu Oo and his wife. Dunkley said the new deal would help with turning the weekly newspaper into an English and Burmese-language daily.