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apn puts regional newspapers up for sale - outdoor digital signs for sale
More than 100 regional newspapers and websites in Queensland and new states are on sale as their owners say it no longer wants to invest money in this challenging market.
APN News & Media said it is in talks with several interested parties on divestment of its regional Media in Australia (ARM)
Business to reach more than 1 audience.
5 million from Mackay and Coffs Harbour.
ARM's revenue declined in the 2015 calendar year, although millions of cost cuts and the growth of digital subscriptions began to replace the declining newspaper audience.
"Further investment in the business is now inconsistent with the long-term ambitions of APN, and we have started divesting the business," said APN chief executive Ciaran Davis . ".
Negotiations are underway, he said, but it is too early to speculate on possible sales prices.
The value of APN regional newspaper mastheads has been cut by $51 million, resulting in the company losing $10 million for $2015.
APN may also end up selling its newspaper, radio and magazine business, the second largest source of income in New Zealand.
The plan to include NZME in the stock market has been canceled due to a drop in advertising spending, and APN says it is now considering options for the business.
The company wants to focus on its more successful business, the growth of the Australian Broadcasting Network and the outdoor advertising group Adshel.
In 2015, radio revenue rose by 25 percentage points as Kyle sandy lands and Jackie O pushed KIIS's ratings to success, while its net Gold Network in Sydney and Melbourne
Davis said that the Australian radio market rose 5 percentage points in January, and ARN continued to occupy market share.
The network wants to increase its young audience by investing in mobile, video and social platforms such as iHeartRadio apps.
In 2015, Adshel's revenue grew by 4 percentage points as it launched digital billboards at bus stations.
APN shares rose 2. 5 cents at 52. 5 cents.
APN fell into a red * Net loss of $10. 2m vs $11.
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