The exercise involves transferring the entire media-related businesses of SPH including relevant subsidiaries, relevant employees, News Centre and Print Centre along with their respective leaseholds.
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SPH to restructure media business into not-for-profit entity amid falling revenue
Singapore Press Holdings (SPH) will transfer its media business into a not-for-profit entity amid the ongoing challenge of falling advertising revenue, the company announced on Thursday (May 6). Nadhir Mokhtar reports. 2 related media assets (image or videos) available. Click to see the gallery.
07 May 2021 12:19AM) Share this content
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SINGAPORE: Singapore Press Holdings (SPH) will transfer its media business into a not-for-profit entity amid the ongoing challenge of falling advertising revenue, the company announced on Thursday (May 6).
SPH CEO Ng Yat Chung takes umbrage at reporter s editorial integrity question
SINGAPORE Singapore Press Holdings (SPH) chief executive officer Ng Yat Chung took offence to a reporter s question about SPH s goal of editorial integrity at a news conference on Thursday (6 May) to announce plans to spin off the conglomerate s ailing media business.
Ng, who became SPH CEO in 2017, was responding to a question fielded by a CNA digital reporter who asked if the plans would mean the media business would pivot to emphasise editorial integrity ahead of advertiser interests.
The move to restructure SPH s media business comes as its core segment s revenue and profit continued to plunge amid falling advertisement revenue.
What next for SPH as it seeks a reboot for its media business?
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The Straits Times is Singapore’s largest news outlet. SCREENSHOT: Alfred Siew
In a day of groundbreaking change for the Singapore media industry, you’d have thought the discussion would be about the future of journalism as Singapore Press Holdings (SPH) sought to turn its media unit into a not-for-profit entity.
Yet, there’s much online chatter about its chief executive seemingly losing his cool when asked about maintaining editorial independence.
At a media event, Ng Yat Chung said he took umbrage at questions about his company’s independence, according to a report in Today.