The move expands News Corp’s interest in the Australian media company from just under 5 percent with its additional $136 million (Aus) investment
Press Release:
New York, NY – March 18, 2015 — News Corp announced today that News Corp Australia will build its investment in APN News and Media Limited (“APN”) to a 14.99% stake subject to regulatory approval.
APN has a high quality portfolio of Australian and New Zealand radio and outdoor media assets and small regional print interests. It is led by a quality management team that has successfully driven improvements in the performance of the business.
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