APN News & Media [ASX: APN], which publishes the New Zealand Herald, may list its New Zealand business on the local sharemarket.
The Sydney-based company has retained Grant Samuel to assist with its review of strategic options for APN New Zealand, which includes its New Zealand publishing assets, as well as The Radio Network which encompasses the Newstalk ZB and ZM stations, and its GrabOne businesses, it said in a statement. An initial public offering and NZX listing is one option being considered, it said.
APN's New Zealand unit last month posted an 8 percent decline in first-half revenue to A$201.6 million, and a 9 percent fall in earnings before interest, tax, depreciation and amortisation to A$34.6 million, reflecting the sale of South Island and Wellington newspapers and several magazine titles, including the weekly Listener magazine, to Germany's Bauer Media.
APN's New Zealand shares last traded at 85 cents, and have gained 82 percent so far this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Massey University's David Tripe on why CBA is selling its life businesses at a loss
- As much as the leaders will bask in a win, they will both face challenges as prime minister, comments Rob Hosking
- Fisheries Inshore NZ chief executive Jeremy Helson says many in the industry have concerns about new fishing regulations
- Perry Group chairman Simon Perry explains why Hamilton needs a $1 billion development in a disused quarry
- Jacinda Ardern has sure been talked up a lot by the media, claims David Cohen
- NBR Radio: best of the week ended September 15, with Grant Walker