The Broadcasting Act limits foreign interests in a broadcasting company to 49%.
[Obs.: For the purpose of the OECD FDI Regulatory Restrictiveness Index, the Ministerial approval requirement, which apparently may grant foreign investors with the right to hold more than 49% of the voting capital of a broadcasting firm, is considered to be rather the exception than a recurrent policy of the government, i.e. the primary policy is assumed to be the equity restriction, and only in exceptional occasions, the Minister may authorise otherwise].
"PART X - OWNERSHIP AND CONTROL OF BROADCASTING COMPANIES [...]
Broadcasting company owned by foreign source
44.—(1)  A company must not, unless the Minister otherwise approves, be granted or hold a relevant licence if the Minister is satisfied that —
(a) any foreign source, alone or together with one or more other foreign sources —
(i) holds at least 49% of the shares in the company or its holding company; or
(ii) is in a position to control voting power of at least 49% in the company or its holding company; or
(b) all or a majority of the persons having the direction, control or management of the company or its holding company are —
(i) appointed by; or
(ii) accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of,
any foreign source, whether acting alone or together with one or more other foreign sources.[...]" (Broadcasting Act, 1994, Chapter 28, Sec. 44, last amended 01 April 2022)
Broadcasting Act, 1994, Chapter 28, Sec. 44, last amended 01 April 2022
[<a href="https://sso.agc.gov.sg/Act/BA1994">Act</a>]