MediaHouse Ltd is to delist from the Bermuda Stock Exchange.

Shareholders voted in favour of the move at the publishing firm's AGM yesterday.

MediaHouse is the parent company of the Bermuda Sun.

Randy French, MediaHouse chairman and CEO, said: "While MediaHouse has great respect for the BSX and the significant meaning of having a public exchange in Bermuda, the company is not using the BSX to raise capital and nor is the public actively trading the company's shares on the exchange.

"We have valued our long relationship with the BSX and the board's decision to recommend to the shareholders that the company's shares be withdrawn was not taken lightly.

"We believe it is in the company's best interest to move forward as a private company and I am gratified that, having carefully considered both the pros and cons of the delisting, the shareholders of the company overwhelmingly agreed with the board's recommendation."

Mr. French said the firm is working with its professional advisors on a potential programme to buy back some of its own shares during the notice period.

It will release further information about this scheme in due course.

The last day of listing for MediaHouse shares will be on a date to be confirmed by the BSX.

MediaHouse has joined a string of businesses who have delisted from the Bermuda Stock Exchange, including Masters, SAL, Bermuda Container Lines, Solar and Long Botham Boats.

Fast food restaurant Kentucky Fried Chicken Bermuda has also stated its intention to delist from the BSX but shareholders have yet to vote to do so.