UnionWorks stumps up dollars 1.7m for stations

SINGAPORE: Singapore Press Holding's Media Works has teamed up with NTUC Media as part of a move by the SPH group to evolve into a full-fledged media company with regional ambitions. UnionWorks, the newly-established joint-venture will be initially capitalised at Sdollars 2.6 million (USdollars 1.4 million). The joint-venture has put forward a proposal to the Singapore Broadcasting Authority to buy and operate the NTUC Media's radio stations - the English language Most Music 91.3 FM and Mandarin language Heart 100.3 FM - for Sdollars 1.68 million. If the deal is approved, it will enable MediaWorks to plug a gap on the radio front. The company had earlier launched internet services and will be unveiling its television offerings next month. MediaWorks chief executive Lee Cheok Yew said: "This transaction completes our basic platforms of TV, radio and the internet in Singapore. "Although we are more of a content than a platform player, these basic platforms in Singapore are essential to showcasing our capabilities and serving as a springboard for our regional efforts." NTUC media chief executive Seah Kian Peng, who will head UnionWorks as its chairman, said the deal has been signed amid the ongoing consolidation in the radio sector. The two partners are looking at repositioning, reprogramming and rebranding the radio stations. The repositioning is expected to take place at the end of May to coincide with the launch of MediaWorks' two television channels - the English language TV Works and the Mandarin U. According to the joint-venture, the repositioning will seek to exploit the synergies between the radio stations and MediaWorks' television channels. Bernard Law, NTUC Media chief operating officer (broadcasting), said there are enormous synergies to be gained between the television and radio stations. According to Law, radio stations will help promote MediaWorks and vice versa. It is expected that some of the radio stars will move over to television, while the two companies examine cross promotions and content sharing deals. In a related development, UnionWorks has retained NTUC Media's sales agency agreement with Capital City Posters (CCP) to handle the sale of air-time on the two radio stations. CCP's deal with NTUC was due to expire in 2003. CCP will also work with MediaWorks and SPH to offer integrated packages to advertisers. Law said the decision to retain CCP was based on its expertise in the radio business through its parent company, Clear Channel, which is the largest radio network in the US. Despite the deal, the four advertising sales people at NTUC Media will keep their jobs. The four will now focus on selling ads for NTUC's magazines. CCP has established Capital City Radio Sales and has appointed four people to sell space for UnionWorks.

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