APN considers demerging NZME following cancelled IPO

Mon, 18 Apr 2016

By Sophie Boot April 18 (BusinessDesk) - APN News & Media could spin off its NZME New Zealand media assets after abandoning an initial public offering for the division in February, although investors say such a proposal may struggle to find favour with shareholders. The Australian newspaper, owned by APN shareholder News Corp, reported that media group was expected to pursue an in-specie distribution of NZME shares to shareholders for NZME and would make an announcement at its annual general meeting on May 11. Shareholders would hold stoc...

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