Apn buys oggi billboard assets in New Zealand
APN News&Media has acquired the assets of OGGI to increase its position in the New Zealand outdoor advertising market.
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Rich List
APN News&Media has acquired the assets of OGGI to increase its position in the New Zealand outdoor advertising market.
The assets purchased includes 100 billboard panels across the country, with significant coverage in the key metro markets of Auckland and Wellington.
"This includes a number of central business district sites that are well positioned to reach audiences during the Rugby World Cup in New Zealand in September and October 2011," APN said.
OGGI managing director Gordon Frykberg told NZPA he was exiting the static outdoor advertising market to concentrate on his separate OGGI Digital business, which has 400 screens in 87 The Warehouse stores.
He was happy with the "dollar amount" paid by APN but would not disclose it. He said APN would be able to capitalise on an increased strategic position in the New Zealand outdoor advertising market.
He said Infratil Ltd, which owns NZ Bus, which sells advertising on buses, would now be "well behind the eight ball" in the market. The bus advertising is handled by iSite Media.
APN News and Media chief executive Brett Chenoweth said "APN Outdoor has strong momentum at the moment. It delivered an excellent result in 2010 and this move supports APN Outdoor's position as a leading outdoor operator in the New Zealand market.
"The acquisition is consistent with APN's approach to investing in high growth media opportunities".
NZPA
Mon, 07 Mar 2011
Mon, 07 Mar 2011
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Apn buys oggi billboard assets in New Zealand
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