Money FM podcast: What does being not-for-profit mean for SPH Media
Shareholders of Singapore Press Holdings (SPH) have overwhelmingly backed its plan to hive off its media business.
The move will pave the way for the formation of a new company limited by guarantee, while potentially unlocking shareholder value for the mainboard-listed company.
In an interview with Money FM 89.3 on Wednesday (Sept 15), Mr Patrick Daniel, interim chief executive of SPH Media Trust, shares his thoughts about what becoming not-for-profit would mean for the company. He also talks about SPH Media's plans to continue to be a strong brand in Singapore.
Host Elliot Danker and Bharati Jagdish speak with Mr Daniel on the following points:
1. Difference between a listed company and the newly formed public company limited by guarantee or CLG (2:30)
2. Why is it called SPH Media Trust and how clear is the purpose of this CLG? (6:20)
3. What were the problems affecting the media segment of SPH because it was part of a listed company? (8:25)
4. Quality journalism cannot be maintained in constant cost-cutting mode (11:20)
5. How SPH Media still needs to be financially viable while achieving purpose (13:13)
6. Talent and technology - cornerstones of the new SPH Media Trust (14:05)