SINGAPORE, 25 August 2017 — TODAY, published by Mediacorp Press, will become the first newspaper in Singapore to pivot to a fully-digital future, as it discontinues its print edition.
This follows a deal signed today, which sees Mediacorp buy back a 40 per cent stake of Mediacorp Press held by Singapore Press Holdings since 2005. Completion of the deal is subject to regulatory approval and scheduled for the end of September 2017, coinciding with the last print edition of TODAY.
With full ownership and control of Mediacorp Press, Mediacorp will restructure the TODAY business to better face the new digital-first media landscape.
Reputed for its journalistic excellence, TODAY has recently been gaining recognition for its digital initiatives. TODAY started preparing for its strategic digital pivot three years ago, while staying focused on producing quality content. In April 2017, TODAY launched a fully digital weekend edition. Recognising that readers increasingly want their news on the go and encouraged by the growth in engagement, Mediacorp is taking the next step, turning the weekday editions fully digital too.
As advertising revenues follow audiences to digital platforms, Mediacorp has also strengthened its commercial offerings to enable advertisers to reach their clients digitally. These offerings, together with Mediacorp’s TV and Radio platforms, offer clients integrated multi-platform marketing solutions.
The discontinuation of TODAY’s print edition, however, will mean that about 40 roles become redundant. Mediacorp will explore options to redeploy the staff in these positions to other roles within the company. Where this is not possible, eligible staff will be offered severance packages and outplacement support.
Mediacorp thanks all staff of the TODAY team for their contributions.
Head, Brand and Communications
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