Li TV is engaged in the business of operating and distribution of an English language lifestyle television channel "Life Inspired" that broadcasts pan-regionally across Asia, which is also available on Astro Channel 728.
The group told Bursa Malaysia that its wholly-owned subsidiary Li TV Holdings Ltd and its wholly-owned subsidiaries namely Li TV International Ltd, Li TV Asia Pte Ltd and Li TV Asia Sdn Bhd will cease operations effective October 7.
Li TV incurred losses of US$1.62 million (RM6.96 million) for the financial year ended December 31, 2017.
With all broadcasting companies globally facing headwinds as well as digital disruption within the media industry, Star Media said it does not expect a turnaround of this segment.
"In view thereof, the board has decided to cease the business operations of Li TV Group to mitigate further losses," it explained.
Life Inspired is Asia's ground-breaking lifestyle channel, featuring world class content, serving as an entertainment destination for Asian cosmopolitan trend seekers. Li's range of first-run and exclusive entertainment centers around five aspects of an ideal lifestyle: Food, Home, Wellness, Travel and Style. It is (was) available with Basic HD Pack on channel 728 (HD).