UPDATE 2-Singapore Straits Times publisher to hive off media business Reuters 5/6/2021
Popular Searches Government supports SPH s restructuring proposal (Adds government comment paragraph 4)
SINGAPORE, May 6 (Reuters) - Singapore Press Holdings Ltd (SPH), which publishes the city-state s main newspaper, said on Thursday it would transfer its media business to a not-for-profit company as the unit struggles with falling advertising revenue and losses.
SPH said the separation would allow the eventual not-for-profit media arm, which would include publications such as The Straits Times and Chinese newspaper Lianhe Zaobao, to secure funding from a range of public and private sources.
Such funding could include additional financial support from the government, Chairman Lee Boon Yang said in comments reported by The Straits Times.
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Temasek and Singapore Press Holdings Agree to Merge Event Units
Posted on 02/03/2021
Singapore’s Temasek Holdings and Singapore Press Holdings Ltd. (SPH) have entered into an agreement to merge their meetings, incentives, conventions, and exhibitions (MICE) subsidiaries. Singapore Press Holdings is a listed company.
SingEx Holdings Pte Ltd is a unit of Temasek. Sphere Exhibits is a unit of Singapore Press Holdings. SingEx Holdings will merge into Sphere Exhibits to form SingEx-Sphere Holdings.
According to the details of the merger, Temasek will own 60% of SingEx-Sphere while SPH will own 40%. The agreed transaction value of 40% of SingEx-Sphere is $24.4 million.
Singapore Press Holdings publishes The Straits Times.
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