Singapore newspaper publisher to be restructured into nonprofit

Economy Society

Singapore Press Holdings Ltd., a leading media company in the city-state, said Thursday it will turn its newspaper publishing business into a not-for-profit company due to shrinking advertising revenue amid a fiercely competitive media landscape. The company, which had enjoyed a near monopoly of the print newspaper publishing in Singapore that made it one of the richest media companies in Asia before the internet era, said in a statement that it "will be transferring its media business to a not-for-profit entity amidst the ongoing challenge of falling advertising revenue." Under the restructur...

Kyodo News

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