SPH Media Trust to investigate inflated circulation issues 'more fully', commissions legal advisors to assist
SINGAPORE — SPH Media Trust , a non-for-profit firm that owns the Straits Times and Lianhe Zaobao, said it has tasked its audit and risk committee to investigate its inflated circulation issues"more fully" and roping in legal advisors as well, with findings to be reported to the public trust's board.
In the media industry, circulation figures are an important benchmark for setting the price of advertising. The committee is chaired by former managing partner of EY Asean and Singapore Max Loh. It also includes Allen & Gledhill's co-head of corporate mergers and acquisitions Lim Mei, and HSBC Singapore's vice chairman of global banking for Southeast Asia Philip Lee.
"But as digital media and advertising grew, quantifying print circulation became less relevant. ABC ceased operations in Singapore in 2019."The company had since"taken action" against its staff members involved in the overstatement of circulation figures in end-December last year.
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