If all things go to plan, News Corp could soon walk away with a 14.9 per cent stake in APN News and Media. The newspaper publisher is looking to acquire APN as an “investment”, subject to regulatory approval.
“News Corp Australia will build its investment in APN News and Media Limited (APN) to a 14.99 per cent stake subject to regulatory approval,” reads a statement from News Corp.
“APN has a high quality portfolio of Australian and New Zealand radio and outdoor media assets and small regional print interests. It is led by a quality management team that has successfully driven improvements in the performance of the business.”
In Australia, APN owns the Australian Radio Network which includes the Kiis network, Pure Gold and The Edge 96.1. It also published around 100 daily and non-daily newspapers across Australia and New Zealand, including The New Zealand Herald.
In New Zealand, APN owns three national radio networks - NewsTalk ZB, The Hits and Coast - as well as four major networks.
