SPH takes over last daily

SPH takes over last daily

SINGAPORE (AFP): Media giant Singapore Press Holdings Ltd. (SPH) has bought the island state's Tamil-language newspaper for S$500,000 (US$357,140), it was announced here yesterday.

With the purchase of Tamil Murasu, SPH now owns all the daily newspapers published here.

SPH said it had signed a memorandum of understanding with Hipro Printing Pte. Ltd., the owner and publisher of the Tamil- language daily, to buy all the issued share capital of 200,000 ordinary shares at S$2.50 per share.

The 60-year-old newspaper, with a circulation of about 10,000, was a family-run sole proprietorship until last year when it was converted into a private limited company.

SPH's stable of dailies includes the English-language dailies Straits Times and Business Times. It has also branched out into publishing a magazine in CD-ROM format.