Increasing loss has prompted APN News & Media to sell off its regional media arm. This sector of APN currently consists of 12 daily newspapers - including the Gladstone Observer and Gympie Times - 60 community publications, and 30 regional news websites.
A 7 per cent drop has been recorded year on year since 2015 - a revenue decline from $202.1 million to $188.5 million. This is alongside an audience decline of 4 per cent and national revenue down 13 per cent.
Part of APN’s decision to sell is the result of a shifting focus towards online. While its print has suffered, the company’s digital publications have seen audience growth of 22 per cent.
APN chief executive Ciaran Davis says the company’s digital plans “require further investment, particularly in fast-tracking the digitisation and monetisation of its loyal and local audiences”.
He says the decision has been a difficult one: “APN has been a long-term supporter of regional publishing in Australia however, our future investments must remain focused on growth assets and opportunities.
“We have therefore commenced a process to divest ARM. New ownership should give ARM the flexibility to invest where required, to continue to provide quality news and content to its audience, without having to compete for APN’s capital.”
