My Paper to merge with The New Paper
MY PAPER and The New Paper (TNP) will combine to form a revamped TNP that will be distributed free from December, Singapore Press Holdings (SPH) announced yesterday.
The new TNP, which will tap on the strengths of both products, will be available at existing distribution points, including MRT stations. It will continue to be available online.
My Paper started as a free Chinese newspaper in 2006.
It became bilingual in 2008.
TNP started in 1988.
Of this merger, 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 that 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."
Rahul Pathak, editor of My Paper (English), said: "When you combine TNP and My Paper, you get a strong and very readable product with a wide reach."
"I think that both readers and advertisers will be pleased," he added.
The new TNP will be published Monday to Saturday.
SPH also announced that in view of the changing media landscape, it will be taking measures to reduce operating costs.
This will involve a staff reduction of up to 10 per cent over two years through attrition, retirement, non-renewal of contracts, outplacement and retrenchment, it said.
SPH will work with the relevant unions to ensure that fair terms are given to affected staff and will extend to them the necessary help to support them in their transition.
The two measures are among a number of changes the company unveiled after a five-month review of its core media business.
On the marketing front, SPH has formed 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 last month through the merger of the company's print, digital, radio and out-of-home sales teams, will deliver optimised advertising solutions using data analytics.
SPH will also make several changes to its existing portfolio, to refresh its suite of products.
Alan Chan, chief executive of SPH, said: "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."