Nilanka Rajapaksa, a businessman closely affiliated with former President Mahinda Rajapaksa, has secured controlling shares of Rivira Media Corporation. 

Previously, famous businessman Ravi Wijeratne had the controlling shares of the company and handled day-to-day operations of the media organization. He also had close affiliations with former President Rajapaksa. 

It is learnt that Rajapaksa has paid Rs. 10 million to obtain controlling shares of the media company which was founded by the Richard Pieris group. As a result, Wijeratne,a businessman who has interests in a wide range of businesses including Casinos, will now distance himself from the affairs of the company. 

In fact, it was Nilanka Rajapaksa who bought over the Rivira Media Corporation from Richard Pieris Group Chairman Sena Yaddehige in April, 2008. Rajapaksa was later joined by Prasanna Wickramasuriya, a nephew of former President Rajapaksa and the former Chairman of Airport and Aviation Services Limited. 

In the mid 2010, three other investors, namely Ravi Wijeratne, Jehan Amaratunga and Eral Weerasinghe invested money in the company with Wijeratne securing controlling shares. 

Soon after Rajapaksa securing controlling shares of the company, The Nation, the weekend English publication of Rivira Media Corporation, was closed down temporarily. It is reliably learnt that the paper will not be revived by the management due to financial constraints.