APN ends shocker year with more masthead value write-downs

Wed, 20 Feb 2013

By Pattrick Smellie Feb 21 (BusinessDesk) - Beleaguered APN News & Media, the Australasian publisher of the New Zealand Herald, has increased write-downs on the value of goodwill and its newspaper mastheads in its end of year result, to produce a net loss to Dec. 31 to A$455.8 million. The decision to add a further A$151 million on non-cash impairments to the A$485 million already announced at the half-year result has effectively halved the total value of goodwill and non-amortising cash-generating units on APN's books from A$1.4 billion a ye...

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