Singapore Press Holdings is reportedly planning to merge its two tabloids, The New Paper and My Paper, into a new free-distribution publication for business-savvy readers that will go head-to-head with MediaCorp’s Today, according to an article on Bloomberg.
The New Paper was established about three decades ago, and offers easy-to-read, sensational stories; while My Paper came about in 2006 as Singapore’s first free Chinese paper, then revamped two years later to publish news in both English and Mandarin.
Apparently, the company — which is the largest newspaper publisher (by market value) in Southeast Asia — is also looking at cutting back its workforce by about five to 10 percent. It seems like SPH will soon be holding a town hall with its employees to talk about this restructuring exercise, said sources with knowledge of the matter.
For now, SPH isn’t commenting on any of this, calling it speculation. Guess we’ll know for sure in time.
