Josephine Teo on overstatement of SPH Media circulation numbers

No public monies have been lost, there is no change to the Government’s decision to provide funding support to SPH Media Trust (SMT) and there is no change to the amount of funding. These points were made by Communications and Information Minister Josephine Teo in Parliament on Monday (Feb 6) when she addressed questions from more than a dozen MPs on the overstatement of circulation numbers for SPH Media titles. Mrs Teo said no Government funds have yet been disbursed and the Government had no funding relationship with SMT during the period when circulation figures were found to have been inflated. Meanwhile, SMT’s internal review of its circulation numbers has in fact reinforced the Government’s assessment that restructuring is needed as the media landscape has become highly unfavourable for news organisations. Mrs Teo said that in assessing the funding required, circulation numbers were not a key consideration and the level of funding deemed necessary to invest in technology and capability development remains valid. She explained how SMT will be held to account, with a focus on readership and reach, independent audits and regular progress updates. The Government will review the funding quantum at the mid-point of the stipulated five-year period and make adjustments if needed, she said.