Singapore, 5th May: Singapore-listed newspaper publisher and real estate company, Singapore Press Holdings (SPH), has announced that the company will transfer its media business into a not-for-profit entity.

SPH’s media assets include English-language newspapers, The Straits Times and The Business Times and the Chinese-language newspaper Lianhe Zoabao. As with many media businesses, SPH’s media business has struggled with falling advertising revenues in recent years dragging down SPH’s overall financial performance and market capitalization.