No FDI is permitted in newspaper companies. Under the Newspaper and Printing Presses Act (NPPA), the term “newspaper” refers to any publication containing news, intelligence, reports of occurrences, or any remarks, observations or comments, in relation to such news, intelligence, reports of occurrences, or to any other matter of public interest, printed in any language and published for sale or free distribution at regular intervals or otherwise, but does not include any publication published by or for the Government. The Infcomm Media Development Authority provides the following: "Examples of newspapers include Entertainment/Leisure magazines, News magazines, Religious publications and Society/Club/Association publications. [...] A Permit is not required for one-off publications such as novels or commemorative booklet, and for online publications." 
[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 III - NEWSPAPER COMPANIES [...]
Special features of newspaper company
10.—(1)  Subject to subsection (15), in every newspaper company —
(a) all the directors shall be citizens of Singapore; (b) there shall be 2 classes of shares, namely, management shares and ordinary shares; and (c) no management shares shall be issued or transferred except to citizens of Singapore or corporations who or which have been granted the written approval of the Minister." (Newspaper and Printing Presses Act)
Newspaper and Printing Presses Act, 1974, Chapter 206, Sec. 10, last amended 12 January 2022
[<a href="https://sso.agc.gov.sg/Act/NPPA1974">Act</a>]