MediaCorp to list as Channel NewsAsia goes region-wide

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