Under the restructuring proposal, SPH Media will eventually be transferred to a not-for-profit entity for a nominal sum. - The straits Times/ANN
SINGAPORE, May 6 (Bloomberg): Singapore Press Holdings Ltd., which publishes the country’s flagship daily newspaper, plans to spin off its media business into a non-profit entity after conducting a strategic review of its businesses.
Faced with an upheaval in this business in recent years, Singapore Press -- which also invests in properties from shopping malls to student accommodation -- has approached the government with a proposal to put the media business on a sustainable financial footing, it said in a statement on Thursday
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