Media merger
-
Streats, MediaWorks to cease
Streats to be replaced by Today. Ch I and U to be under Ch 5 and Ch 8. U magazine to go next -
where u get the new?|
-
really meh?
-
Just came at 1400Originally posted by blowfish:where u get the new?|
SINGAPORE : Singapore's media industry is undergoing a major shake up.
The island's largest broadcaster MediaCorp and main-board listed Singapore Press Holdings, will merge their mass-market television and free newspaper operations - in a move to stem losses and improve shareholder value.
Advertisement
On Friday afternoon, top management from the two media giants signed agreements for SPH to buy a 20 percent stake in a new television company to be called MediaCorp TV Holdings.
MediaCorp will manage this new company and own the remaining 80 percent.
SPH will also buy a 40 percent stake in MediaCorp Press, which publishes TODAY.
TODAY will continue to be managed by MediaCorp - and will operate independently of the stable of newspapers under SPH.
The deals - were struck on a "willing buyer, willing seller" basis - and should receive formal regulatory approval by year's end.
Since Singapore's media liberalisation in May 2000, both SPH and MediaCorp have incurred losses - after their respective forays into each other's businesses proved unprofitable.
SPH will pay S$10 million for their 20 percent stake in the new TV company MediaCorp TV Holdings.
The new company will comprise MediaCorp's Channels 5 and 8 and TV Mobile - as well as SPH MediaWorks' Channel U and I.
The new television company will also include MediaCorp Studios - which produces the bulk of MediaCorp's local programming.
Channel U will continue to operate but Channel I's commercial viability has to be reviewed.
On the newspaper side, MediaCorp will sell a 40 percent stake in MediaCorp Press, which publishes TODAY, to rival SPH for more than S$19 million.
Once the deal is completed, SPH will merge its own free newspaper Streats with TODAY.
TODAY will continue to be managed by MediaCorp, and will operate independently of the stable of newspapers under SPH.
The mergers will affect staff on both sides.
A staff rationalisation exercise will be overseen by a Manpower Synergy Task Force.
It will comprise an independent director from MediaCorp's board, and senior HR managers from the two media companies. - CNA -
massive lay-offs expected
-
again in singapore?Originally posted by InnoHippo:massive lay-offs expected -
FYI: Mediaworks artistes and workers are now in a KPKB mood.
Streats will be incorporated into TODAY. Channel I is now under a decision whether to continue or withdrawn. Yeah! Two media, one company... -
soon we will be thrown back into a few yrs back where channel 8 and 5 is all we have, its only a matter of time i guess. then we will have more dramas with the same storyline but different cast. imagine a viewing a stageplay over and over with different cast and/or same cast with different roles. dats my thinking....channel U will be gone next, dats almost certain i think.Originally posted by sbs&tibs:FYI: Mediaworks artistes and workers are now in a KPKB mood.
Streats will be incorporated into TODAY. Channel I is now under a decision whether to continue or withdrawn. Yeah! Two media, one company...
wat will remain, in my speculation
CNA
Channel 5+8
1 new channel from mediaworks but will be rather 'lowkey' one... -
I dun think Ch U will be gone. It is because this channel have won awards like for Variety shows, etc and it has quite a number of viewers.
-
I hope after the merger, a brand new:
1) City Beat with original hosts
2) Jian Jian Da Jia Le
and more. -
Hope Ch 8 and Ch U don't show their news at the same time,
since they combine, show news at the same time will waste money.
Perhaps Ch U show their news one hour from 2000 to 2100. Between 2000 and 2100, Ch 8 will continue to show variety shows or dramas.
From 1830 to 1900 and 2200 to 2245. Ch U can show dramas.
The two stations stop showing too much Taiwanese dramas. Please show more Chinese documentaries and infortainment programmes, especially those produced by Phoenix TV.
Meanwhile, Ch U please show some cartoons, don't give excuse that says, "Ch i are already showing". Ch i is Ch i and Ch U is Ch U, one can show English cartoons, the other one can show Chinese cartoons.
To Ch 8 and Ch U, now you all are under one company, please discuss together so that your programmes will not clash, because overall no one will win. Please remember that we are a small nation. -
30 days more to the merger
-
confirm?
-
YesOriginally posted by CyanSupra:confirm?
The list is coming up real soon for the staff movement and Ch i's fate -
hope ch U will stay as rival to ch 8...
-
Dun think so.. They should stop those stupid compeititionOriginally posted by BrUtUs:hope ch U will stay as rival to ch 8... -
29 more days.
-
SPH MediaWorks' Channel i to close on 1 Jan 2005
SINGAPORE : Following the merger of MediaCorp's and SPH's TV and free newspaper operations, Channel i will be closed on 1 January 2005.
Channel i is the English language channel of SPH MediaWorks.
In a joint statement, MediaCorp and Singapore Press Holdings (SPH) said they have concluded that Channel i is not commercially viable because of the fragmented and small English language TV market.
The merger is expected to be legally completed by the end of this year, after which MediaCorp TV Holdings Pte Ltd (MCTV), the holding company, will be 80 percent owned by MediaCorp and 20 percent by SPH.
There will be minor interim changes to the programming schedule of Channel U in the first quarter of 2005 until MCTV introduces new complementary schedules for Channels 8 and U. These interim changes will be announced before 1 January 2005.
As part of a staff rationalisation exercise, SPH will lay off 132 staff and MediaCorp will release 72 staff from across the group. -
MediaCorp and SPH complete staff rationalisation exercise
SINGAPORE : The word is final - and the numbers are out.
This in the wake of the merger of the mass-market TV and free newsapaper operations of media companies MediaCorp and Singapore Press Holdings (SPH).
The two-month staff rationalisation exercise involved 429 staff from SPH.......the majority from SPH Mediaworks.
Of these, 200 will be transferred to MediaCorp, 97 absorbed by SPH, and 132 will be retrenched.
Separately, MediaCorp also carried out a rationalisation programme, retrenching 72 staff in total.
On average, for those with more than three years of service, each retrenched person gets one month pay for each year worked, capped at 25 months.
The total retrenchment bill? $5.3 million for SPH and $3.9 million for MediaCorp.
The aim of the rationalisation is to stop the bleeding.
Mr Ernest Wong, Group CEO of MediaCorp, said: "The rationalisation is that with 330 people from MediaWorks and about half of them coming over here - in that sense, the half coming over here, we don't bring full overheads to run one channel...if you bring entire overheads, no rationalisation, you will bring over $40 million losses too."
As for the mood of the staff, SPH and MediaCorp said it was generally positive.
And with bruising competition put aside, the focus would now be on moving into the regional market.
Mr Man Shu Sam, COO of SPH MediaWorks, said: "This consolidation of resources and talent will help us to move even faster to compete in the region. I think we need to catch up these past four years competing locally."
But the staff rationalistaion process was anything but easy.
The five-man Manpower Synergy Commitee met several times a week over the past two months, communicating by phone and emails as well, and reviewing 1,200 staff to run the merged TV and studio operations - in which MediaCorp owns 80 percent and SPH 20 percent.
Mr Soo Kok Leng, Chairman of Manpower Synergy Committee, said: "Really to determine how you compare one person with another person because when we look at the list, 1,200 of them, to make sure the job they are doing currently matches and grading on this side is the same as the other side - often they are about the same.
"The question is who is the best...for everyone there was a debate it was not an easy thing...some are really easy - can be a matter of seconds, some took 2-3 meetings."
Mr Alan Chan, Ceo of Singapore Press Holdings, said: "The deliberation has been very open, very objective and when there are any doubts about any individual, sometimes the supervisor is called in to give testimony or evidence, on the suitability of the individual staff and through this long process, came up with a list. From the SPH side, we are very satisfied that all our staff have been given a fair weightage."
The changes kick in by year end. -
Good... No clashes to programming
-
This is bad news for the angmohs amongst us. Channel 5 has been getting worse by the year (WWE, lousy and tacky announcements with awful American accents, cutting to ad-breaks mid-sentence), and Channel I was a refreshing alternative. Now it seams that even Central is turning to tacky entertainment 'documentries'.
What I wonder is, do the authorities realise the affect that mass media has on the people, do they realise how poor the quality of said mass media is, and if so, why is it letting it degrade to such abysmal levels? -
The prob is, it might be better if it is consolidatedOriginally posted by sabaisabai:This is bad news for the angmohs amongst us. Channel 5 has been getting worse by the year (WWE, lousy and tacky announcements with awful American accents, cutting to ad-breaks mid-sentence), and Channel I was a refreshing alternative. Now it seams that even Central is turning to tacky entertainment 'documentries'.
What I wonder is, does the government realise the affect that mass media has on the people, does it realise how poor the quality of said mass media is, and if so, why is it letting it degrade to such abysmal levels?
It is still too early to tell, wait till 2nd qtr next year -
This was made on Dec 1, and news came in Dec 7... Me was really sure... Maybe my instinct niaOriginally posted by sbst275:Yes
The list is coming up real soon for the staff movement and Ch i's fate
-
Read from zaobao, Ch i only 4 person operating nia. Operating costs is relatively low. Certain reality programmes are not shown in Ch 5, should use Ch i to show them.Originally posted by sabaisabai:This is bad news for the angmohs amongst us. Channel 5 has been getting worse by the year (WWE, lousy and tacky announcements with awful American accents, cutting to ad-breaks mid-sentence), and Channel I was a refreshing alternative. Now it seams that even Central is turning to tacky entertainment 'documentries'.
What I wonder is, do the authorities realise the affect that mass media has on the people, do they realise how poor the quality of said mass media is, and if so, why is it letting it degrade to such abysmal levels?
Will Ch 5 show EPL Highlights, EPL Preview and La Liga live matches? Will Ch 5 show friendly matches like what Ch i is showing occasionally? -
OK, it will be up from Q2... We can't tell for nowOriginally posted by PJ_Quek:Read from zaobao, Ch i only 4 person operating nia. Operating costs is relatively low. Certain reality programmes are not shown in Ch 5, should use Ch i to show them.
Will Ch 5 show EPL Highlights, EPL Preview and La Liga live matches? Will Ch 5 show friendly matches like what Ch i is showing occasionally?