SINGAPORE free daily newspaper Today, owned by MediaCorp, plans to slash its weekend circulation down to 150,000 copies. MediaCorp Press Managing Director Philip Koh says that in light of the recent economic turmoil across the industry "every cent matters."
Nearly eight months ago, Today's total circulation was boosted from 250,000 to 300,000, meaning that if the weekday circulationg remains at 300,000 the current average circulation will amount to 275,000.
Today was launched in 2000, while its weekend edition in 2002. Four years ago the paper decided to venture with its competitor Streats, also launched in 2000.
Singapore Press Holdings (SPH), which owns Streats, has a 40 percent stake in Today. In addition, the company started a Chinese language free daily two years ago called My Paper.
Publishing group MediaCorp is controlled by the state, whereas SPH is state-owned.
Source: Newspaper Innovation