Five things to know about the proposed SPH Media Trust
Singapore
Former Cabinet minister Khaw Boon Wan is slated to chair the SPH Media Trust, a company limited by guarantee (CLG), if it is formed, pending shareholder approval.
Speaking to reporters at Singapore Press Holdings' Toa Payoh headquarters on Wednesday, Mr Khaw addressed the challenges facing the industry and outlined his plans.
Here are five things to know about SPH Media Trust:
1. Patrick Daniel will be interim CEO
Mr Daniel, the former editor-in-chief of the English/Malay/Tamil Media Group and deputy CEO of SPH, will be coming out of retirement to run the CLG in the interim. He was also a former editor of The Business Times. Mr Khaw said that Mr Daniel will be with the new CLG "for quite some time".
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Meanwhile, Mr Khaw will look for "a CEO who can take SPH Media into the future as a multilingual digital media organisation, one who understands both East and West and is Singaporean at heart".
2. The move will happen on Sept 1 this year, at the earliest
The nine management shareholders of SPH have agreed to be the founding members of the CLG. They are: Great Eastern Life Assurance, Oversea-Chinese Banking Corp, NTUC Income, Singtel, DBS Bank, United Overseas Bank, National University of Singapore, Fullerton and Nanyang Technological University.
"Practically" the entirety of SPH's media and media-related staff - about 2,500 employees - will move over to the new company.
3. Business experts and digital entrepreneurs will be tapped for guidance
Grab's Anthony Tan has offered a digital expert for SPH to consult for advice. Private sector senior professionals, even those outside the media industry, have been following the developments, and Mr Khaw hopes to engage them to serve on the company's Board of Directors.
4. An academy will be set up to train recruits and upskill staff
After settling into the transition, an SPH Media Academy will be set up to provide training and upskilling, to uphold journalistic standards and digitalise.
5. More scholarships, internships; existing journalists will be sent on foreign exchanges
Beginning next year, the company will arrange internships and raise the number of scholarships offered, extending them beyond journalists to those in digital disciplines. Serving journalists will gain experience and connections from fellowships and attachments in world-class newsrooms overseas.
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