The contract was put up for tender late November 2010. The tender bids sparked fears of an ad-rate hike when they were made public in January 2011.
An LTA statement says that bus commuters will soon be able to read breaking news headlines, traffic and weather alerts on electronic panels at selected bus stops while waiting for their buses.
During the contract period, MediaCorp will be responsible for the overall cleanliness and maintenance of 1,292 bus stops islandwide. In return, MediaCorp will be licenced to operate the advertisement panels at these bus stops.
The maintenance contract for the 1,292 bus stops, previously awarded to JCDecaux in 2009, will expire on 31 March 2011.
"MediaCorp was selected after a thorough and rigorous review of all the bids received for this tender. We are confident that the services provided by MediaCorp will serve the needs of LTA and help to enhance the overall commuting experience for our bus commuters," said group director for road operations and community partnership, Dr Chin Kian Keong.
Shaun Seow, MediaCorp deputy CEO, said, "Going forward, we will be introducing digital screens at selected shelters which will present relevant information and bite-size entertainment for bus commuters. Hopefully, they will find this valuable and enjoyable. For the advertisers, they can look forward to more creative and innovative solutions to engage their customers."
There are a total of 4,638 bus stops island-wide. Besides the bus stops that will be maintained by MediaCorp, about 3,000 bus stops are currently maintained by Clear Channel Singapore, under a contract which will expire in 2021.