Radio boss becomes APN chief

APN News & Media [ASX: APN] chief executive Michael Miller will leave the Australian owner of New Zealand media group, NZME, to head up the Australasian arm of News Corp's empire, and will be replaced by the company's top radio executive, Ciaran Davis.

Mr Miller's resignation comes after he was appointed executive chairman of News Corp for Australasia, but he will stay with APN during a transition period for the company. Mr Davis, who is currently chief executive of the Australian Radio Network, will take over as group chief executive from September this year.

"Michael will work side-by-side with Ciaran to ensure the smoothest possible transition for the business, and on behalf of the board, we wish Michael all the best in his future endeavours," APN chairman Peter Cosgrove says. "Ciaran's outstanding leadership and successes at ARN, including taking the company to be Australia's number one metropolitan radio network, make him the natural successor to replace Mr Miller."

Mr Miller joined APN in June 2013, having been with Rupert Murdoch-controlled News Ltd since 1997, where he was the regional director for New South Wales, and had experience in New Zealand, sitting on the board of pay-TV operator Sky Network Television for a decade until News sold its stake. He joined the company after a boardroom shake-out when cornerstone investors baulked at the prospect of new capital being raised.

Australian media reports have speculated Mr Miller would take the top job in Australia after Murdoch convinced veteran newspaper executive Julian Clarke to come out of retirement in 2013 to lift the performance of those publishing operations.

News built a 15% stake in APN earlier this year when Ireland's Independent News & Media exited its long-running investment in the Australasian media group.

APN carved out its New Zealand businesses, including The Radio Network stable of stations and New Zealand Herald newspaper, under the NZME brand for an initial public offering on the NZX, though plans for a float have since been delayed.

The company's dual-listed shares were unchanged on the NZX at 83 cents, and last traded at 77 Australian cents on the ASX.

(BusinessDesk)