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I am a little confused, isn't the entire SPH a media company (minus its property and healthcare arm)? So how does this whole restructuring works? And most importantly, in what way will sgcarmart and MCF be affected? @kobayashiGT SPH to restructure media business into not-for-profit entity to support quality journalism SINGAPORE - Singapore Press Holdings (SPH) intends to transfer its media business to a not-for-profit company after concluding a strategic review of its various businesses. The restructuring entails transferring all the media-related businesses including relevant subsidiaries, employees, News Centre and Print Centre along with their respective leaseholds, all related intellectual property and information technology assets to a newly incorporated wholly-owned subsidiary, SPH Media Holdings Pte Ltd ("SPH Media"). Under the restructuring proposal, SPH Media will eventually be transferred to a not-for-profit entity for a nominal sum. This will be a newly formed public company limited by guarantee, or CLG. More information on the CLG will be announced in due course, said SPH in a press statement on Thursday.