MediaCorp to list as Channel NewsAsia goes region-wide

Channel NewsAsia (CNA) has kicked off its regional feed at its official launch in Singapore, with plans to reach 12 million households in Asia and break even, by the year 2003. As it enters the competitive regional broadcasting market; however, the Singapore government-owned network faces scepticism from the public about its editorial independence. But guest-of-honour at the event, Deputy Prime Minister, Brigadier-General Lee Hsien Loong, quickly moved to dispel those doubts by announcing a government plan to list its parent company, MediaCorp Group. "We plan to list MediaCorp soon, and subject it to the discipline and rules of a private company," he said. "This should dilute any perceptions that Channel NewsAsia is a government operation." Channel NewsAsia is a network of MediaCorp News, a subsidiary of MediaCorp Group, which is fully-owned by the Singapore Government. MediaCorp News' CEO Shaun Seow said the listing would take place by early next year. "There has been a lot of doubting and concern about the channel being heavily censored and controlled by the government. "By listing MediaCorp, we're showing people that we have no agenda in that," he told journalists at the event. "But we hope that our programmes will speak for themselves and viewers will be able to see that we are neither pro nor against the government." Channel NewsAsia's executives expect the business to break even by 2003. After all, as they eagerly point out, it has done well in Singapore. With an investment of US$150 million over five years, the channel markets itself as a fully Asian-owned and managed TV channel that offers news from an Asian perspective, and began broadcasting from its local feed in March 1999. It succeeded in reaching its targeted five million households in Singapore by September this year. Regionally, CNA plans to maximise its reach by partnering up with cable and internet operators. So far they have signed up with cable operators in India, Indonesia and the Philippines to distribute CNA to subscribers and hotels in these countries. The channel is also working with dotcoms to distribute material to business professionals, and are considering moving into a pay service and ecommerce in the future. Additionally, there are plans to set up offices in New York and London by the end of 2001. Channel NewsAsia currently employs 140 journalists in 11 cities. With broadcasting channels such as CNN, BBCWorld and CNBC in the market, the newcomer seems to be facing some tough competition. Yet, the channel insists, it is not competing with anyone. "The market is big enough for everybody," said Mr Seow. "We hope to offer viewers just one more perspective."

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