Aloysius has come under heavy attack by the media over his connection to the CB treasury bond transaction.

To counter that attack, he maintained a media unit run by six senior journalists at Central Point, owned by the CB.

Based on his experiences there, Aloysius has begun thinking of starting a media network.

The co-editors of the English newspaper he is to start will be two senior female journalists and the editorial director and a deputy editor of a popular newspaper have been invited to join his proposed Sinhala newspaper.

His media network will consist of Sinhala and English newspapers, a radio, two television channels and a website.

Aloysius is to start his venture in collaboration with Express Newspapers, the publisher of ‘Virakesari’ and owned by Harry Selvanayagam and Gnanam.

His mother’s father Vencesusclaus had been a managing director of Express Newspapers and owned 25 per cent of its shares.

Those shares were later transferred to Aloyceus’s mother, who now has decided to hand them over to Aloysius.

Selvanayagam is also an owner of leading beer-producer Lion Brewery, while Geoff Aloysius, father of Arjun Aloysius, is the owner of W.M. Mendis distilleries.

Also, Aloysius is funding ‘The Sunday Leader’ and ‘Irudina’, but the two newspapers have failed to live up to his expectations, and he has decided to have a new media network, ‘Sathhanda’ reports.