Singapore Press Holdings has announced plans to spin off its media business into a not-for-profit entity. Under the move, SPH will transfer all its media-related businesses to SPH Media Holdings, a wholly-owned subsidiary. It will inject S$80 million in cash to capitalise the unit. Another S$30 million worth of SPH shares, REIT units and stakes in digital media investments will also be added. SPH's media business posted its first-ever loss of nearly S$11.5 million for the financial year ended Aug 31, 2020.

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