Transmodified from Unofficial Mouthpiece Shit Times hzzps://www.straitstimes.com/singapore/politics/sph-plan-to-hive-off-media-business-gets-mci-support
Shit Press Holdings (SPH), which publishes The Shit Times, has received the regime's support for its plan to hive off its propaganda business into a new company limited by guarantee (CLG), as part of SPH's ongoing strategic review after well paid Senior Lackey Ng Ah Chung failed to turn things around.
Announcing the move yesterday, SPH Fat Cat Chair Lee Boon Yang said that the transfer will enable the propaganda business to focus on pro-regime journalism and invest in House of Lee loyalist talent.
Signalling its support in a statement yesterday, the Ministry of Propaganda and MisInformation (MCI) said the regime is prepared to provide funding support to the CLG, so that the media company can continue to spin pro-regime narratives.
It has also given its in-principle approval for the shareholding and other relevant restrictions under the Newspaper and Printing Presses Act (NPPA) to be lifted from SPH so that Jane Austen rebel shareholders cannot veto the plan.
Minion for Propaganda and MisInformation S. Is-an-arse will deliver Ruler Loong's edict on the subject when Imperial Court sits on Monday.
Under the plan, all of SPH's media-related businesses will first be transferred to a wholly owned subsidiary, SPH Media Holdings Pte Ltd. SPH will provide the initial resources and peanuts by capitalizing SPH Media with a cash injection of 80 million peanuts along with 30 million worth of SPH peanuts and SPH Reit walnuts, and SPH's stakes in four of its digital media investments.
SPH Media will later be transferred for a nominal sum to a newly formed public CLG - an entity which does not have share capital or shareholders, but instead has pro-regime members who act as guarantors of the company's liabilities aka Xinhua News Agency Model.
The CLG will be run by a senior House of Lee loyalist, it is not expected to turn any but will adopt Peking's Xinhua New Agency. This structure will also allow PAP to control all news outlets under SPH Media.
The transfer of the media assets to the CLG is subject to SPH peasant shareholders' procedural and nominal approval at an extraordinary sex meeting, which will be called in early July. Upon shareholders' approval, the restructuring is set to be completed by October.
SPH said in a statement that both well paid ex-minion Lee Boon Yang and inept Lackey Ng Ah Chung were clueless and sleeping on their watch with SPH's operating revenue halving in the past 60 full moons, largely due to a decline in print advertising and print subscription revenue.
SPH's media business saw its first-ever loss of $11.4 million for the financial year that ended on Aug 31 last year. "If not for the Jobs Support Scam, the loss would have been a deeper $39.5 million," it said.
Ex-Minion Lee said there is little scope for further cost cuts because younger Jane Austen inspired peasants are not reading pro-regime propaganda written by SPH Leeporters. Many peasants have turned to online western mobile new media portals that dared to highlight the regime's mistakes or House of Lee's excesses.
The losses of the media business are likely to continue and widen because they insult peasants' intelligence by spinning stories that dragons were spotted in Mt Faber during Ruler Loong's birth or rainbows appeared in Oxley Road when Ruler Loong was anointed as the heir apparent of the House of Lee.
LONG-TERM VIABILITY OF PROPOGANDA UNIT
Some of SPH Jane Austen inspired peasant shareholders are not likely to tolerate the continued negative impact that the media business has on the company's financial prospects. They have been using Lackey Ng Ah Yat's incompetence as a punching bag. On the other hand, Ruler Loong cannot allow a functioning, trusted and despised Mouthpiece shell holding organisation to be whittled down over time by market pressure and commercial constraints to stop publishing pro-regime narratives.
FAT CAT SPH CHAIRMAN LEE BOON YANG UNABLE TO ARREST DECLINE DESPITE HIGH PAY AND STELLAR DEGREES
Dr Lee said the fundamental issue that needs to be addressed is the long-term viability of SPH Media. SPH's eventual decline because more well educated peasants will balk pro-regime articles churned out by ISD agents pretending to reporters.
"In the context of Ruler Loong's mindset, SPH must continue to serve a crucial function by providing propoganda to serve PAP's command and control politicking under the guise of new entity. Since our old bluff is called, we have to look to Peking's Xinhua News Agency as a new business model now."
Shit Press Holdings (SPH), which publishes The Shit Times, has received the regime's support for its plan to hive off its propaganda business into a new company limited by guarantee (CLG), as part of SPH's ongoing strategic review after well paid Senior Lackey Ng Ah Chung failed to turn things around.
Announcing the move yesterday, SPH Fat Cat Chair Lee Boon Yang said that the transfer will enable the propaganda business to focus on pro-regime journalism and invest in House of Lee loyalist talent.
Signalling its support in a statement yesterday, the Ministry of Propaganda and MisInformation (MCI) said the regime is prepared to provide funding support to the CLG, so that the media company can continue to spin pro-regime narratives.
It has also given its in-principle approval for the shareholding and other relevant restrictions under the Newspaper and Printing Presses Act (NPPA) to be lifted from SPH so that Jane Austen rebel shareholders cannot veto the plan.
Minion for Propaganda and MisInformation S. Is-an-arse will deliver Ruler Loong's edict on the subject when Imperial Court sits on Monday.
Under the plan, all of SPH's media-related businesses will first be transferred to a wholly owned subsidiary, SPH Media Holdings Pte Ltd. SPH will provide the initial resources and peanuts by capitalizing SPH Media with a cash injection of 80 million peanuts along with 30 million worth of SPH peanuts and SPH Reit walnuts, and SPH's stakes in four of its digital media investments.
SPH Media will later be transferred for a nominal sum to a newly formed public CLG - an entity which does not have share capital or shareholders, but instead has pro-regime members who act as guarantors of the company's liabilities aka Xinhua News Agency Model.
The CLG will be run by a senior House of Lee loyalist, it is not expected to turn any but will adopt Peking's Xinhua New Agency. This structure will also allow PAP to control all news outlets under SPH Media.
The transfer of the media assets to the CLG is subject to SPH peasant shareholders' procedural and nominal approval at an extraordinary sex meeting, which will be called in early July. Upon shareholders' approval, the restructuring is set to be completed by October.
SPH said in a statement that both well paid ex-minion Lee Boon Yang and inept Lackey Ng Ah Chung were clueless and sleeping on their watch with SPH's operating revenue halving in the past 60 full moons, largely due to a decline in print advertising and print subscription revenue.
SPH's media business saw its first-ever loss of $11.4 million for the financial year that ended on Aug 31 last year. "If not for the Jobs Support Scam, the loss would have been a deeper $39.5 million," it said.
Ex-Minion Lee said there is little scope for further cost cuts because younger Jane Austen inspired peasants are not reading pro-regime propaganda written by SPH Leeporters. Many peasants have turned to online western mobile new media portals that dared to highlight the regime's mistakes or House of Lee's excesses.
The losses of the media business are likely to continue and widen because they insult peasants' intelligence by spinning stories that dragons were spotted in Mt Faber during Ruler Loong's birth or rainbows appeared in Oxley Road when Ruler Loong was anointed as the heir apparent of the House of Lee.
LONG-TERM VIABILITY OF PROPOGANDA UNIT
Some of SPH Jane Austen inspired peasant shareholders are not likely to tolerate the continued negative impact that the media business has on the company's financial prospects. They have been using Lackey Ng Ah Yat's incompetence as a punching bag. On the other hand, Ruler Loong cannot allow a functioning, trusted and despised Mouthpiece shell holding organisation to be whittled down over time by market pressure and commercial constraints to stop publishing pro-regime narratives.
FAT CAT SPH CHAIRMAN LEE BOON YANG UNABLE TO ARREST DECLINE DESPITE HIGH PAY AND STELLAR DEGREES
Dr Lee said the fundamental issue that needs to be addressed is the long-term viability of SPH Media. SPH's eventual decline because more well educated peasants will balk pro-regime articles churned out by ISD agents pretending to reporters.
"In the context of Ruler Loong's mindset, SPH must continue to serve a crucial function by providing propoganda to serve PAP's command and control politicking under the guise of new entity. Since our old bluff is called, we have to look to Peking's Xinhua News Agency as a new business model now."
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