Singapore's media scene shrinks with merger.(Brief Article)
Asia Image, October, 2004
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Singapore's two media groups, MediaCorp and Singapore Press Holdings (SPH), are merging their television and print operations as part of a "rationalisation move to stem losses and enhance shareholder value", said the two companies.
A new S$50-million (US$30 million) company, MediaCorp TV Holdings, will be formed to operate MediaCorp's existing Channel 8, Channel 5, and TVMobile as well as SPH MediaWorks' two channels, Channel U and Channel i. MediaCorp Studios, which produces most of MediaCorp's local programming, will also come under the new venture.
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