SINGAPORE — The finding that the circulation figures of SPH Media newspapers had been inflated reaffirms the need for the company to undergo restructuring, Minister for Communications and Information (MCI) Josephine Teo said in Parliament on Monday (Feb 6).
The Government will also not change the amount of funding it plans to inject into SPH Media Trust , as circulation numbers were not a key consideration in its assessment of how much funding the company needed, she added.
On Monday, Mrs Teo said the level of funding previously assessed for these purposes of investing in technology and capability development remain valid. "In particular, demand for print and digital subscriptions had weakened because news had become freely available. This is why circulation had come under pressure."
SMT said that its audit and risk committee has been tasked to investigate these points and"consider what further steps, if any, need to be taken". Mr Gerald Giam ) asked whether the inflation of circulation figures is a longstanding practice, to which Mrs Teo said she did not know Mr Don Wee asked whether MCI would put in place measures to prevent such incidents from happening in the future.
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