APN says another announcement regarding the capital raising and other matters will come later today and the stock remains halted in the meantime.

Sydney-based APN will pay $A36 million upfront, with an additional payment of $A30 million tied to the business meeting its 2013 earnings targets. 

APN News & Media, publisher of the New Zealand Herald, has appointed Deutsche Bank to undertake a strategic review of its NZ media assets after approaches from potential buyers.