Newspaper publisher Singapore Press Holdings to spin off troubled media business

  • 📰 CNBC
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The company's media business includes English broadsheets The Straits Times and The Business Times, as well as Chinese newspaper Lianhe Zaobao.

SPH said all media-related assets will be transferred into a new wholly-owned subsidiary named SPH Media Holdings, with an initial funding that includes a cash injection of 80 million Singapore dollars and 30 million Singapore dollars worth of SPH shares.

The new subsidiary will eventually be transferred to a not-for-profit entity for "a nominal sum," said the company. Trading of SPH shares were halted on the Singapore Exchange on Thursday, pending the announcement. As of Wednesday's close, the company's shares have risen roughly 58% this year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Please help Colombia show what’s truly happening! Cops and military are being abused! Yet only one side of the story is being told. We need as much visibility as possible. We need the world to know the truth:

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines