,Singapore

SPH drops media business

This is the result of a restructuring effort by the group.

In an announcement released on 10 September, Singapore Press Holdings (SPH) confirmed the dropping of their media business.

The company attributed this as the result of a restructuring effort to increase SPH’s value. While SPH is to assist with the operation and maintenance of the business with an initial fund of $80m, the efforts will allow the company to avoid any potential losses and future funding requirements.

According to the answers given by the company to its investors, another reason for this is the decrease in operating revenue due to declines in print advertising and print subscription revenue.

A tax loss of $9.7m was recorded for the six months until 28 February 28. This decline is expected to continue.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!