SeaPRwire

S’pore’s media landscape can ill-afford convulsions, closures seen around the world: Iswaran

aseanpr
3 minutes

SINGAPORE - The Republic's media landscape can "ill-afford" convulsions and closures seen around the world without risking a consequential loss of diversity and choice, said Minister for Communications and Information S. Iswaran on Monday (May 10). He was making a ministerial statement in Parliament on a proposal by Singapore Press Holdings (SPH) to restructure its media business to a not-for-profit entity. The proposal, announced last week, was backed by the Government, which stated it was prepared to provide funding support for the entity. Noting that Singapore's small local market comprises just two main news media organisations - SPH and Mediacorp - Mr Iswaran said that SPH must, at this critical juncture, chart its own course to revise - and if necessary, reinvent - its business model for the digital age. "Most publications are now running deficits, and many newsrooms are shrinking, even closing," he noted. Mr Iswaran pointed out that in South-east Asia, well-known newspapers have changed hands, restructured or shut down in recent years. The Jakarta Globe, for example, ceased printing and went fully online in 2015; and the Philippine Star had a majority stake acquired by the t...

SeaPRwire

Govt ‘does not intend nor expect’ restructuring to affect relationship between MCI and SPH newsrooms: Iswaran

aseanpr
6 minutes

SINGAPORE - The relationship between the Government and newsrooms should not be affected even as Singapore Press Holdings (SPH) restructures its media business into a model that can receive state funding, said Minister for Communications and Information S. Iswaran. In a ministerial statement on Monday (May 10), he said the Government "does not intend nor expect" the transfer of SPH Media to a company limited by guarantee (CLG) to affect the relationship between his ministry and the SPH newsrooms. "The Government is mindful that our local news media must remain credible institutions that are trusted by Singaporeans, and that it remains the responsibility of the editors and journalists in SPH Media to report news and diverse opinions objectively, and from a Singaporean point of view," he told Parliament. The minister's statement follows Singapore Press Holdings' (SPH) announcement last Thursday that it plans to restructure its media business into a not-for-profit entity that can seek public and private funding, to free it from shareholders' expectations and place it in a more sustainable financial position. The move has drawn concern and questions about whether the editorial integrit...