SPH Media

SPH Media Trust, trading as SPH Media, is a Singaporean mass-media organisation created to house the media operations formerly conducted by Singapore Press Holdings. It was incorporated on 19 July 2021 as a company limited by guarantee and received the former listed company's media assets, employees, intellectual property, technology infrastructure, headquarters, and printing facilities when the transfer was completed on 1 December 2021. The restructuring separated the media business from SPH's other assets and responded to long-term pressure on print readership, advertising, and the economics of traditional newspapers as audiences moved online. The organisation is one of Singapore's two dominant mass-media groups, operating alongside the state-owned Mediacorp. Its portfolio spans multiple languages and audience segments. Major English-language titles include The Straits Times, The Business Times, and The New Paper, while its Chinese-language portfolio includes Lianhe Zaobao and Shin Min Daily News. Berita Harian serves Malay-speaking audiences, and Tamil Murasu serves Tamil-speaking readers. The group also publishes specialist, lifestyle, technology, and community titles, including HardwareZone, Her World, Home & Decor, Harper's Bazaar Singapore, The Peak, and Singapore Women's Weekly. Its digital activities include news, employment, classified-advertising, technology, and citizen-journalism services. SPH Media also operates five radio stations: Mandarin-language 96.3 Hao FM and UFM100.3, and English-language MONEY FM 89.3, Kiss92 FM, and One FM 91.3. Through Straits Times Press, it produces books and periodicals in English and Chinese. Its advertising activities include SPHMBO, a digital out-of-home advertising platform. The group has also been associated with online properties such as STJobs, STClassifieds, AsiaOne, and Tech in Asia, although the precise ownership or operating relationship of every digital property can vary over time. The 2021 restructuring involved a transfer of approximately 2,500 employees, including about 1,000 journalists and international correspondents. The new trust structure retained a regulated management-share framework under Singapore's Newspaper and Printing Presses Act. Initial institutional members included major Singaporean banks, telecommunications and infrastructure companies, investment groups, insurers, universities, and other prominent organisations. The structure gives management shares special voting weight on certain matters and requires regulatory approval for their issuance or transfer. As part of its response to declining print economics, SPH Media moved The New Paper to a digital-only format in December 2021 and merged Lianhe Wanbao into Shin Min Daily News later that month. The organisation has pursued digital engagement, multilingual reach, youth audiences, audio, and other forms of media distribution. In February 2022, the Singapore government announced potential support of up to S$900 million over five years, subject to targets involving audience reach, engagement, vernacular communities, and younger users. SPH Media remains an influential institution in Singapore's information environment. Its publications have traditionally maintained broad coverage of domestic affairs and have generally been viewed as favourable toward the Singapore government. The organisation has also expanded cooperation with Chinese state media, including Xinhua News Agency. In 2023, an internal-review finding concerning inflated circulation figures became a major governance and credibility issue. The episode highlighted the difficulties of measuring audiences across print and digital products and the importance of reliable reporting in a media group receiving public support.

SPH Media emerged from the restructuring of Singapore Press Holdings, the long-established company associated with many of Singapore's principal newspapers. Singapore Press Holdings itself had been formed in 1984 through the merger of The Straits Times Press Group, Singapore News and Publications Limited, and Times Publishing Berhad. Over subsequent decades, its newspaper readership faced structural pressure as Singaporeans increasingly consumed news through websites, mobile services, social media, and other digital channels. The resulting stagnation in readership weakened the traditional economics of print publishing and encouraged a separation of the media business from SPH's property and other activities. On 6 May 2021, Singapore Press Holdings proposed transferring its media operations to a privately managed company limited by guarantee. The arrangement was designed to provide a dedicated structure for the media business while retaining the management-share framework required by Singapore's Newspaper and Printing Presses Act. The proposed organisation was named SPH Media Trust. The plan also involved lifting shareholder limits applying to the formerly listed SPH entity, allowing that company to focus on its non-media assets. An extraordinary general meeting held on 10 September 2021 approved the proposal by approximately 97.55% of votes cast. SPH Media Trust had been incorporated on 19 July 2021, and the operational transfer was completed on 1 December 2021. The transferred assets included the organisation's headquarters, News Centre, printing facilities, media intellectual property, information-technology systems, and approximately 2,500 employees. The former SPH also provided S$80 million in cash and S$30 million in SPH shares and SPH Real Estate Investment Trust units as part of the transition. The new organisation inherited a broad portfolio of newspapers in English, Chinese, Malay, and Tamil. Its principal titles included The Straits Times, The Business Times, Lianhe Zaobao, Shin Min Daily News, Berita Harian, and Tamil Murasu. It also operated magazines, radio stations, digital services, and advertising businesses. Straits Times Press continued book and periodical publishing, while digital properties addressed employment, classified advertising, technology, community reporting, and general online audiences. The restructuring produced visible changes in the portfolio. The New Paper ended its print edition on 11 December 2021 and continued digitally. On 24 December 2021, Lianhe Wanbao was merged into Shin Min Daily News. SPH Media cited the limited pool of Chinese-language media talent, duplication of content, and the need to concentrate resources on digital development as reasons for the consolidation. These decisions reflected the wider shift from multiple print editions toward fewer, more integrated brands and online distribution. The Singapore government announced on 16 February 2022 that SPH Media could receive up to S$900 million over five years. The assistance was described as conditional, with targets relating to audience reach and engagement, service to vernacular communities, and youth audiences. The support reflected the public-interest role assigned to major domestic media but also placed greater emphasis on measurable performance and internal accountability. In March 2022, SPH Media began reviewing internal processes, including the compilation and reporting of circulation data. The review became public in January 2023, when circulation figures for several publications were reported to have been inflated by approximately 10% to 12%. The findings referred to duplicate subscription counts, an account used to purchase fictitious circulation, and circulation numbers derived without a reliable evidentiary basis. The episode damaged confidence in the organisation's reporting controls and became one of the most significant controversies in its early history. SPH Media continues to operate as a major Singaporean media institution. It occupies one side of a domestic mass-media duopoly with Mediacorp and maintains a multilingual portfolio spanning print, digital, audio, magazines, publishing, and advertising. Its coverage is generally regarded as favourable toward the Singapore government, and the group has continued to develop relationships with Chinese state media, including Xinhua News Agency. Its long-term challenge is to preserve the reach and public role of its established titles while building sustainable digital, audio, and cross-platform engagement.

1. 2023Circulation-data controversy becomes public

   A review reported that circulation figures for several publications had been overstated by approximately 10% to 12%.

   Source
2. 2022Conditional public support announced

   The Singapore government announced potential support of up to S$900 million over five years, subject to performance targets.

   Source
3. 2021SPH Media Trust is incorporated

   The new company limited by guarantee was incorporated on 19 July to receive Singapore Press Holdings' media operations.

   Source
4. 2021Restructuring approved

   Shareholders approved the transfer of the media business at an extraordinary general meeting on 10 September.

   Source
5. 2021Media-business transfer completed

   The transfer of media assets, systems, facilities, intellectual property, and approximately 2,500 employees was completed on 1 December.

   Source
6. 2021The New Paper goes digital-only

   The title ended its print publication and continued as a digital product.

   Source
7. 2021Lianhe Wanbao is merged into Shin Min Daily News

   The consolidation reduced duplication and was presented as part of a broader effort to focus resources on digital operations.

   Source
8. 1984Singapore Press Holdings is formed

   The predecessor organisation was created through the merger of The Straits Times Press Group, Singapore News and Publications Limited, and Times Publishing Berhad.

   Source

A large, multilingual Singaporean media group combining established newspapers and magazines with digital publishing, radio, community media, and advertising services.

• The Straits TimesEnglish-language newspaper

  SPH Media's principal English-language newspaper and one of Singapore's best-known news brands. It covers national and international affairs, business, opinion, sport, lifestyle, and community issues, with a Sunday edition published as The Sunday Times. The title also supports the group's broader digital journalism and international correspondent network.

• The Business TimesBusiness newspaper

  An English-language business and financial news title serving corporate, investment, economic, and professional audiences in Singapore and the region. Its weekend edition is known as The Business Times Weekend.

• Lianhe ZaobaoChinese-language newspaper

  A major Chinese-language newspaper covering Singapore, China, regional affairs, business, and community news. Its Sunday edition is published as zbSunday, and the title forms a central part of SPH Media's Chinese-language journalism portfolio.

• Shin Min Daily NewsChinese-language tabloid newspaper

  A Chinese-language tabloid serving mass-market and community readers. It absorbed Lianhe Wanbao in December 2021 as SPH Media consolidated its Chinese-language print operations and sought to reduce duplication while strengthening digital activity.

• Berita HarianMalay-language newspaper

  SPH Media's Malay-language newspaper, focused on news, public affairs, community issues, and features relevant to Malay-speaking audiences in Singapore. Its Sunday edition is Berita Minggu.

• Tamil MurasuTamil-language newspaper

  A Tamil-language newspaper serving Singapore's Tamil-speaking community through news, commentary, cultural coverage, and community-oriented content.

• The New PaperDigital newspaper

  An English-language tabloid title that moved from print to a digital-only format in December 2021. Its transition illustrates SPH Media's effort to adapt legacy products to changing consumption habits and lower the costs associated with physical newspaper production.

• Magazines portfolioMagazine publishing

  SPH Media publishes magazines spanning lifestyle, women, home, business, technology, and culture. Named titles include F ZINE, Harper's Bazaar Singapore, Her World, Home & Decor, ICON, Nüyou, The Peak, and Singapore Women's Weekly.

• SPH Media radio stationsRadio broadcasting

  The audio portfolio comprises five stations: Mandarin-language 96.3 Hao FM and UFM100.3, plus English-language MONEY FM 89.3, Kiss92 FM, and One FM 91.3. Together they extend the group beyond print and digital publishing into music, talk, business, and community broadcasting.

• Straits Times PressBook and periodical publishing

  A publishing operation associated with SPH Media that produces books and periodicals in English and Chinese, extending the organisation's editorial capabilities beyond newspapers and magazines.

• STJobs and STClassifiedsDigital services

  Digital portals associated with employment listings and general classified advertising. They represent SPH Media's expansion from editorial publishing into online services built around its audience and advertising relationships.

• SPHMBODigital out-of-home advertising

  SPH Media's digital out-of-home advertising platform, extending the organisation's commercial activities into screen-based advertising outside the home.

• 2022Accept conditional government support for media transformationStrategy

  The restructured organisation needed to sustain public-interest journalism and develop reach across digital, vernacular, and younger audiences.

  What changed. The Singapore government announced potential support of up to S$900 million over five years, with the amount linked to targets for reach and engagement.

  Aftermath. The arrangement provided a potential financial foundation for transformation while tying support to measurable audience and public-service objectives.

  Potential government support. Up to S$900 million (Five years from the 2022 announcement)

  Source
• 2021Transfer the media business into a company limited by guaranteeStrategy

  Singapore Press Holdings faced prolonged pressure from stagnant print readership and changing digital news consumption. Shareholder pressure contributed to a proposal to separate the media operations from the listed company's other activities.

  What changed. SPH Media Trust was incorporated and, following shareholder approval, received the former SPH media assets, staff, facilities, intellectual property, and technology systems.

  Aftermath. The transfer was completed on 1 December 2021, creating a privately managed media organisation with a regulated management-share structure.

  Source
• 2021Convert The New Paper to digital-only publicationGeneration change

  The decision formed part of the response to declining print economics and the migration of news audiences to online channels.

  What changed. Print publication ended on 11 December 2021, with the title continuing digitally.

  Aftermath. The change reduced the title's physical-print footprint and made it part of SPH Media's digital publishing strategy.

  Source
• 2021Merge Lianhe Wanbao into Shin Min Daily NewsStrategy

  SPH Media cited limited Chinese-language media talent, overlapping content, and the need to reinforce digital operations.

  What changed. Lianhe Wanbao was merged into Shin Min Daily News on 24 December 2021.

  Aftermath. The move consolidated Chinese-language print resources and reduced the number of separate publications in the portfolio.

  Source

• 2023Inflated circulation figuresControversy

  An internal-process review that began in 2022 found that reported daily circulation figures for several SPH Media publications had been overstated by approximately 10% to 12%. The findings referred to duplicate subscription counts, purchases of fictitious circulation through a project account, and circulation numbers that were derived without an adequate basis. The issue raised questions about internal controls, audience reporting, and the credibility of performance measures relevant to a publicly supported media organisation.

  Source

• 2022Singapore announces potential support of up to S$900 million for SPH Media

  The government announced potential support over five years, with disbursement linked to targets including reach, engagement, vernacular audiences, and younger users.

  OtherRegulation
  Source
• 2021SPH shareholders approve transfer of media business to SPH Media Trust

  At an extraordinary general meeting, approximately 97.55% of votes supported the restructuring that transferred Singapore Press Holdings' media operations to the new company limited by guarantee.

  M&A
  Source
• 2021SPH Media completes transfer of former SPH media assets

  The transfer was completed on 1 December, including media properties, facilities, intellectual property, information-technology assets, and approximately 2,500 employees.

  M&A
  Source
• 2021The New Paper becomes digital-only

  SPH Media discontinued the print edition of The New Paper and continued the title as a digital publication.

  Product generation
  Source
• 2021Lianhe Wanbao is merged into Shin Min Daily News

  The Chinese-language evening paper Lianhe Wanbao was merged into Shin Min Daily News amid efforts to reduce content duplication, address limited Chinese-media talent, and strengthen digital operations.

  Product generation
  Source

1. SPH Media