Ireland-based media group eyes APN shares
Independent News & Media (INM) is looking to increase its stake in Australia’s APN News Media, and has confirmed that it has made an offer to buy out minority shareholders.
APN publishes a host of Australian provincial newspapers, including this area’s local daily, The Northern Star, and associated local weeklies.
INM said it had approached the board of APN regarding a possible leveraged buyout of the entire share capital of APN.
The Ireland-based INM already has a 40 per cent share of APN. “Under the plan, the business would be acquired by a private company newly formed by INM’s consortium, with INM retaining a stake of 40 per cent in APN,” the company said on its news website.
