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...