With the prospect of an IPO on the horizon that would potentially see 60 percent of APN New Zealand’s media assets carved out, a number of new senior humans have joined the organisation to “drive collaboration benefits across the group and fulfill a bold new vision to fully engage Kiwis anywhere, anytime with the content they love”.
APN’s first half figures for 2014 for the six months ended 30 June show that the company’s overall revenue across its Kiwi and Australian offerings climbed three percent, rising from AU$394.6 million last year to A$405.9 million this year. Statutory net profit after tax followed the revenue trend rising 77 percent from A$12.8 million from the previous year to A$22.6 this year. But it wasn’t all good news, with several of the Kiwi categories suffering year-on-year dips. PLUS: we look at Fairfax’s figures and the News Corp debacle.
Earlier today, Fairfax Media Limited and APN News & Media Limited announced a proposed printing agreement that will see a consolidation of the pair’s printing processes in the upper North Island. Under the arrangement, APN will provide printing services to Fairfax in New Zealand for several newspapers at its Ellerslie facility, including the Waikato Times, Sunday Star-Times, Sunday News and other community titles. “The deal has not yet been finalised although the high-level terms have been approved,” says an APN spokesperson.