Here’s good news for fans of The New Paper (TNP) – they can get it for free and enjoy much more content from December.
The revamped TNP will be the result of its merger with freesheet My Paper, both published by Singapore Press Holdings (SPH).
The new TNP, which will showcase the strengths of both products, will be available at existing distribution points including MRT stations, said SPH in a statement today.
On the bold move to turn TNP into a free sheet, Mr Warren Fernandez, Editor-in-Chief of English/Malay/Tamil Media group, said: “The New Paper currently has daily average sales of more than 60,000 which means over 60,000 people are prepared to pay 70 cents each day for the paper. Merging TNP with My Paper, making it free and increasing its circulation to up to 300,000 copies, is a bold decision to serve our readers with a strong product and with revamped content.”
He added: “TNP has a long tradition of remaking itself to stay attuned to readers’ interests and needs. That’s part of its DNA. So now, we’re making it new again, and planning a product that we believe both readers and advertisers will find appealing.”
The decision to merge TNP and My Paper was made after SPH carried out a comprehensive review of its core media business and introduced some transformative changes.
It was aimed at addressing the evolving needs of advertising customers and delivering effective integrated solutions across various media platforms. The group also examined its products and identified areas to further enhance operational efficiency, said the statement.
It created a new integrated marketing division (IMD) that provides advertisers with a more effective and multi-platform reach to their audiences. The new IMD, which was formed in September through the merger of the company’s print, digital, radio and out-of-home sales teams, will deliver “optimised advertising solutions using data analytics for better audience insights”, it said.
Workforce to be cut by up to 10 per cent
In the midst of a challenging media landscape, SPH will carry out a right-sizing exercise across the group to reduce operating costs. It will trim its workforce by up to10 per cent over the next two years through attrition, retirement, non-renewal of contracts, outplacement and retrenchment, said the statement.
SPH will work with the unions to ensure that fair terms are given to affected staff and extend support during their transition.
Mr Alan Chan, CEO of SPH, said: “We have done a comprehensive business review to strengthen our position in a tough economic and media environment. Market conditions will remain difficult with the continuing disruption of the media industry.
“We have had to take difficult decisions on cost control measures to improve operational efficiency. We will continue to innovate and invest in our media products to stay ahead and relevant. At the same time, we will grow our business adjacencies to diversify revenue streams and maximise stakeholder value.”
chenj@sph.com.sg
