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SPH to divest stakes in Mediacorp entities

Singapore, 25 August 2017  Singapore Press Holdings Limited ("SPH") today announced the proposed divestment of its 20 per cent stake in Mediacorp TV Holdings Pte Ltd and 40 per cent stake in Mediacorp Press Limited for S$18m (the "Transaction").  The Transaction is expected to be completed at the end of next month.  SPH expects to record a write down of approximately S$31 million in its books pursuant to the Transaction.

The proposed divestment follows Mediacorp’s decision to cease the print edition of the newspaper TODAY.

Mr Ng Yat Chung, Executive Director and CEO-Designate of SPH, said: “The proposed divestment will allow SPH to focus on its core media business. Free to air television is not core to SPH's business and the divestment of the stake in TODAY follows Mediacorp's decision to turn it into a fully digital product. This rationalization will allow us to focus our energies on serving our audience and advertisers best through a suite of strong media products across the print, digital and radio platforms.”

SPH has 17 newspaper titles which cater to different interests and needs.  Besides the flagship dailies in 4 languages – The Straits Times, Lianhe Zaobao, Berita Harian and Tamil Murasu, as well as freesheet The New Paper, there are also business daily The Business Times, Chinese evening papers Shin Min Daily and Lianhe Wanbao, and student publications.

On an average day, 2.5 million* individuals or 59 per cent of people above 15 years old, read one of SPH's news publications in print copies or one of our digital platforms. 
(* Nielsen Media Index 2016, Monday-Sunday, read any SPH newspapers in print or digital format)

Please see attached SGX announcement and joint media release with Mediacorp. 

 


Issued by Singapore Press Holdings Limited
Co. Regn. No: 198402868E

For more information, please contact:

Chin Soo Fang
Head
Corporate Communications & CSR
Singapore Press Holdings Limited
DID: 6319 1216
Email: soofang@sph.com.sg

 

ABOUT SINGAPORE PRESS HOLDINGS LIMITED
 
Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.
 
Media 
The English/Malay/Tamil Media group comprises the print and digital operations of The Straits Times, The Business Times, The New Paper, Berita Harian and their respective student publications. It also includes subsidiaries Tamil Murasu Ltd, which publishes Tamil Murasu and tabla!; book publishing arm Straits Times Press; SPH Data Services, which licenses the use of the Straits Times Index in partnership with the Singapore Exchange and FTSE-Russell Ltd; financial data company ShareInvestor; the two English stations of SPH Radio - Kiss92 and ONE FM 91.3 and SPH Golf (including SPH Pacom Ltd). 
 
The Chinese Media group publishes three Chinese newspapers in print and digital format - Lianhe Zaobao, Lianhe Wanbao and Shin Min Daily News; four student weeklies - zbCOMMA, Thumbs Up, Thumbs Up Junior and Thumbs Up Little Junior, and ZBBZ Newsgazine. It also operates SPH Radio's Chinese radio station, UFM100.3, and Focus Publishing, which produces a range of books and magazines including U-Weekly.
 
SPH's other digital media initiatives include AsiaOne, Stomp, zaobao.sg and zaobao.com.
 
On an average day, 2.5 million* individuals or 59 per cent of people above 15 years old, read one of SPH's news publications in print copies or one of our digital platforms. 
(* Nielsen Media Index 2016, Monday-Sunday, read any SPH newspapers in print or digital format)
 
SPH Magazines, SPH's wholly-owned subsidiary, publishes and produces more than 100 magazine titles and has various online sites, likehardwarezone.com,herworldplus.com and luxuryinsider.com in Singapore and the region, covering a broad range of interests from lifestyle to information technology. It has also invested in digital newsstand Magzter.
 
SPH also provides out-of-home (OOH) advertising options where it manages large format digital screens and static billboards at key locations in the Central Business District, Orchard Road, City Fringe as well as major heartland hubs.
 
SPH Buzz is a modern retail convenience chain with a network of stores around the island.
 
SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today.
 
Properties
SPH REIT is a Singapore-based REIT established to invest in a portfolio of income-producing real estate primarily for retail purposes. SPH REIT comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road and The Clementi Mall, a mid-market suburban mall in the centre of Clementi town.
 
The Seletar Mall, located in Sengkang, is SPH's latest retail development. This property is a potential asset to be injected into SPH REIT. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, also developed a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road.
 
Other Businesses
 
Online Classifieds
SPH’s online classifieds include the leading online marketplace for jobs (STJobs, FastJobs), property (STProperty), cars (STCars) and general classifieds (STClassifieds,Trezo), sgCarMart and StreetSine.
 
SPH's regional joint venture online classifieds business has a number of leading online classifieds sites in the region.
 
Events and Exhibitions
Sphere Exhibits, Sphere Conferences, Exhibits Inc and Bizlink Exhibition Services organise innovative consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region. 
 
Healthcare
SPH owns Orange Valley which operates nursing homes. 
 
Education
SPH has a 22 per cent stake in preschool and enrichment provider MindChamps.
 
For more information, please visit www.sph.com.sg