Jellandross Supersonic October 12, 2016 Share October 12, 2016 Anyone got insider news? http://www.bloomberg.com/news/articles/2016-10-12/singapore-press-said-to-merge-two-newspapers-reduce-workforce Singapore Press Said to Merge Two Newspapers, Reduce Workforce The New Paper, My Paper will merge to form a ‘free sheet’ Company also plans to cut workforce by as much as 10 percent Singapore Press Holdings Ltd., Southeast Asia’s biggest newspaper publisher by market value, plans to merge two of its tabloids to form a new free-distribution publication as part of a restructuring effort, three people with knowledge of the matter said. The publisher is planning to merge The New Paper and My Paper, they said, declining to be identified because the information isn’t public. The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. Deputy Chief Executive Officer Patrick Daniel is planning a town hall with employees to discuss the restructuring following the announcement, which could come as soon as Thursday, the people said. Singapore Press Holdings, whose market capitalization of S$6 billion ($4.4 billion) is more than twice that of The New York Times Co., said in an e-mailed response to queries that it doesn’t respond to speculation. The company will release earnings for the year ended Aug. 31 on Friday. The plans by the publisher of The Straits Times come as newspapers worldwide seek ways to grow as more people turn to the internet and other sources. The U.S. newspaper industry’s revenue has fallen by more than a third since 2005, its best year, and employed roughly a third fewer professionals in 2013 than it did at its peak in 1989. The new "free sheet" will focus on providing news to business-savvy readers to compete with MediaCorp Pte’s Today newspaper, two of the people said. Shares of Singapore Press have dropped 5.8 percent in the past six months, compared with the 0.8 percent gain in the country’s benchmark Straits Times Index. Pretax income from newspapers and magazines, its biggest business group, has fallen for four straight years, according to data compiled by Bloomberg. A continued decline of media revenue and net income from the third quarter is expected when Singapore Press releases its full-year earnings results, Morgan Stanley analyst Xin Jin Ling said in a report this month. Circulation revenue is also expected to fall slightly as a price increase is offset by a decline in daily circulation, the analyst said. The New Paper was started almost three decades ago and presents news in an "easy-to-read, pop style" for younger adults and busy readers, according to its website. My Paper was started in 2006 as the city-state’s first free Chinese paper, and reintroduced less than two years later offering news in both English and Chinese, targeting young, bilingual professionals, its website showed. ↡ Advertisement 4 Link to post Share on other sites More sharing options...
Celicar Turbocharged October 12, 2016 Share October 12, 2016 Anyone got insider news? Yes, the "three people with knowledge of the matter" who may be the subject of an internal SPH man hunt (not the beauty pageant kind) now, to be added to the list of people to be chopped if they are not already on it. 3 Link to post Share on other sites More sharing options...
Jman888 Moderator October 12, 2016 Share October 12, 2016 i dun think it is major, probably very small headcount. Link to post Share on other sites More sharing options...
Mustank Hypersonic October 12, 2016 Share October 12, 2016 Coe no $1 2 Link to post Share on other sites More sharing options...
UncleAtas Turbocharged October 12, 2016 Share October 12, 2016 Small ikan bilis are the most likely to kene chop. Big head fish still enjoying life. 1 Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 12, 2016 Share October 12, 2016 The New Paper, My Paper will merge to form a ‘free sheet’ Company also plans to cut workforce by as much as 10 percent I suggest new name to be - My New Free paper. This will save them spending like $400,000 to get a new name like Marina Bay. 5 Link to post Share on other sites More sharing options...
Mustank Hypersonic October 12, 2016 Share October 12, 2016 I suggest new name to be - My New Free paper. This will save them spending like $400,000 to get a new name like Marina Bay. 1 Link to post Share on other sites More sharing options...
Wishcumstrue 6th Gear October 12, 2016 Share October 12, 2016 After chopping those 10%, hope I get better dividend... Link to post Share on other sites More sharing options...
Weez911 Supersonic October 12, 2016 Share October 12, 2016 10 Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 12, 2016 Share October 12, 2016 Hard up zone member really cannot read. They are some of the dumbest ducks around. Right bunch of idiots. Link to post Share on other sites More sharing options...
SuPerBoRed Twincharged October 12, 2016 Share October 12, 2016 (edited) The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. sph owns sgcarmart also guys.... chop the newspapers guys man... who cares.. .i spend more time here... get faster info , more interesting opinions some more... Edited October 12, 2016 by SuPerBoRed 2 Link to post Share on other sites More sharing options...
Ender Hypersonic October 12, 2016 Share October 12, 2016 The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. sph owns sgcarmart also guys.... chop the newspapers guys man... who cares.. .i spend more time here... get faster info , more interesting opinions some more... Like that are the mcf forum Admins safe? Mthe mods should be safe,since they don't cost anything. 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic October 12, 2016 Share October 12, 2016 no recession ... mai spread fear ... no $1k coe yet ... lol 1 Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 12, 2016 Share October 12, 2016 The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. sph owns sgcarmart also guys.... chop the newspapers guys man... who cares.. .i spend more time here... get faster info , more interesting opinions some more... Hope no one on MCF staff get chopped. Link to post Share on other sites More sharing options...
Freeder Hypersonic October 12, 2016 Share October 12, 2016 Anyway , TNP news are mainly source from the Internet and untionged from sin Ming n wan bao.. All the reporters there also CMI.. MCFers much more better than them..some more free .. 6 Link to post Share on other sites More sharing options...
Throttle2 Supersonic October 12, 2016 Share October 12, 2016 After chopping those 10%, hope I get better dividend... Good news for shareholders. I also own SPH. 1 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic October 12, 2016 Share October 12, 2016 Good news for shareholders. I also own SPH. Unlikely lah... They will keep the profits for emergency cash 2 Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 12, 2016 Share October 12, 2016 Massage adverts how? ↡ Advertisement 2 Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Haiz...retrenchment letter? :(
Haiz...retrenchment letter? :(
Coolant level going down
Coolant level going down
[Official] Honda and Nissan To Merge
[Official] Honda and Nissan To Merge
ICYMI - Motoring Quick Bites
ICYMI - Motoring Quick Bites
Singapore’s Employment and Salary Outlook for 2023: What Are the Headwinds and Industries That Might Be Affected?
Singapore’s Employment and Salary Outlook for 2023: What Are the Headwinds and Industries That Might Be Affected?
4th generation Suzuki Jimny coming in 2018.
4th generation Suzuki Jimny coming in 2018.
News for Racial Discrimination
News for Racial Discrimination
Future of News Reporting - The Weather Channel
Future of News Reporting - The Weather Channel