ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Media & Entertainment

Singapore Straits Times owner unloads media business to nonprofit

Group sees option as best way to maintain quality journalism

A man reads a newspaper on a bench in Singapore, in January 2018.   © Reuters

SINGAPORE -- Singapore Press Holdings, the publisher of the 175-year-old Straits Times newspaper, will transfer its financially troubled media business to a nonprofit group as a step to maintain quality journalism, the company said Thursday.

SPH will first transfer all of its media operations and assets, including newspapers and publishing outfits, to newly established, wholly owned subsidiary SPH Media Holdings. The parent will later inject the unit with 80 million Singapore dollars ($60 million) in cash, as well as SG$30 million in SPH shares along with real estate investment trust units.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more