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Merging of Mediaworks and Mediacorp

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  • Merging of Mediaworks and Mediacorp

    Just heard from the news that mediaworks is merging with Mediacorp! Maybe they are cancelling Channel I. And 'Today' is also 20% own by mediaworks.

    After merger, there are 5 channels under mediacorp, Channel 8, channel U, TVMobile, Channel 5 and Central.

  • #2
    News from ChannelNewsAsia

    Time is GMT + 8 hours
    Posted: 17 September 2004 1415 hrs

    SINGAPORE : Singapore's media industry is undergoing a major shake up.

    The island's largest broadcaster MediaCorp and main-board listed Singapore Press Holdings, will merge their mass-market television and free newspaper operations - in a move to stem losses and improve shareholder value.

    On Friday afternoon, top management from the two media giants signed agreements for SPH to buy a 20 percent stake in a new television company to be called MediaCorp TV Holdings.

    MediaCorp will manage this new company and own the remaining 80 percent.

    SPH will also buy a 40 percent stake in MediaCorp Press, which publishes TODAY.

    TODAY will continue to be managed by MediaCorp - and will operate independently of the stable of newspapers under SPH.

    The deals - were struck on a "willing buyer, willing seller" basis - and should receive formal regulatory approval by year's end.

    Since Singapore's media liberalisation in May 2000, both SPH and MediaCorp have incurred losses - after their respective forays into each other's businesses proved unprofitable.

    SPH will pay S$10 million for their 20 percent stake in the new TV company MediaCorp TV Holdings.

    The new company will comprise MediaCorp's Channels 5 and 8 and TV Mobile - as well as SPH MediaWorks' Channel U and I.

    The new television company will also include MediaCorp Studios - which produces the bulk of MediaCorp's local programming.

    Channel U will continue to operate but Channel I's commercial viability has to be reviewed.

    On the newspaper side, MediaCorp will sell a 40 percent stake in MediaCorp Press, which publishes TODAY, to rival SPH for more than S$19 million.

    Once the deal is completed, SPH will merge its own free newspaper Streats with TODAY.

    TODAY will continue to be managed by MediaCorp, and will operate independently of the stable of newspapers under SPH.

    The mergers will affect staff on both sides.

    A staff rationalisation exercise will be overseen by a Manpower Synergy Task Force.

    It will comprise an independent director from MediaCorp's board, and senior HR managers from the two media companies. - CNA


    • #3
      All I can say is .. what a laugh!


      • #4
        my sentiments exactly, K.

        read in the papers that some of the mediaworks artistes are afraid they might be viewed upon unfavourably coz of their initial switchover to mediaworks.


        • #5
          This turns out to be the biggest joke in the industry. I can understand the feelings of the Channel U's artistes. But I think they should know that the negotiations are in place since ST reported that talks are in the works months ago.


          • #6
            darn, i guess it's gonna be :bye: to the great english shows on ch I.


            • #7
              anyway, companies are always doing things to their own advantages, and never think for the welfare of their employees.....

              now, i really pity the artistes, especially some whom had just hopped over to mediaworks.... imagine how are you going to face your ex-colleagues, when you are regarded as a second class citizen now?

              my poor xiao xin


              • #8
                ***.. I guess it will be really embarrassing for those who hopped over to mediaworks. now they have to merge, I guess those artists in Media works wont be as popular as before.


                • #9
                  Channel I will be screening 'Lara Croft' this coming Wed, and Channel 5 has also chosen the same day and time slot to air 'Jurassic Park III'. I was planning to watch both, and now I can't. The schedules has probably been decided some time back, with good reasons, I guess, but I wonder why Channel 5 has to choose that same day and time to air the blockbuster? Doesn't that slot belong to 'CSI'? Can't they put the movie in the 1930hrs slot? With the impending merger, why is there a need for competition?


                  • #10
                    Hire and Retrench-Mediacorp and Mediawork merger

                    Offered a transfer to MediaCorp TV Holdings

                    1. Adam Chen 2. Michelle Chia 3. Celest Chong 4. Quan Yifeng 5. Guo Liang 6. Apple Hong 7. Hu Bing 8. Eelyn Kok 9. Ann Kok 10. Ezann Lee 11. Darren Lim 12. Kym Ng 13. Wang Ailing 14. Adrian Pang 15. Lynn Poh 16. Ix Shen 17. Constance Song 18. Bryan Wong 19. Ben Yeo 20. Helen Cheung
                    Offered a position at SPH

                    Offered a position at SPH

                    1. Wang Yanqing (Print) 2. Lina Ng (Marketing) 3. Evelyn Tan (Circulation) 4. Chew Huoy Miin (Print)

                    Artists out of work

                    1. Ann Poh 2. Chen Huihui 3. Ericia Lee 4. Cherie Lim 5. Liu Qiulian 6. Wang Liuyan 7. Adrian Lim 8. Bernard Tan 9. Benjamin Heng 10. David Leong 11. Darren Seah 12. Dick Su 13. Johnson Low 14. Li Wenhai 15. Shaun Chen 16. Peter Yu 17. Xavier Teo 18. Wymen Yong

                    Artists on retainer who were not offered a transfer

                    1. Catherine Tan 2. Cynthia Lee 3. Pamela Oei 4. Steph Song

                    what do u think of the results?were u shocked of the outcome?


                    • #11
                      Why is Lina Ng in marketing? Didn't she runner-up at Star Search eons ago (controversial even, some thought she should have won instead of being sidelined for her big teeth)?


                      • #12
                        to me, i'm not really a big fan with local television. Abt the merger, i see it as less competition hopefully this does not equate in lower standard of productions, but a pooling of resources and talents to bring better quality shows.

                        It would be awkward for some of them to work together again, but i'm sure they will be professional enough to handle this. And I alway feel nauseaeous having to watch people in chu 8 who can't speak well in the first place, were put into hosting roles. Hopefully, the merger will mean an end to all these mismatch.

                        I read today's ST, i'm feeling deeply for what Ericia Lee (who wasn't offer a contract) said:-

                        Lee admitted it was no surprise that MediaCorp did not want her back. 'I stepped on their toes many years ago.'

                        In 2000, she had been nominated for two Star Awards - for Best Newcomer and Most Popular Female Artiste. But the day after the nominations were announced, she informed the media that she was leaving and that she had signed a three-year contract with MediaWorks.

                        There are lessons to be learnt by us. Never step on your employer's toes even when you're leaving them, you never know what will happen in the end.



                        • #13
                          My friend works in IT dept for Mediacorp, and got RETRENCHED This merge is NO GOOD


                          • #14
                            re Ericia Lee: so, they want her younger sister but not her. it's almost like throwing a punch in the older sis' face.


                            • #15
                              they are playing 'politics' from the case of chen huihui and ericia lee. as for shaun chen is expected that he won't be accepted by mediacorp.