APN News shares halted on report INM seeks CEO’s ouster, capital raising eyed

Fri, 15 Feb 2013

Feb. 15 (BusinessDesk) – Shares of APN News & Media were halted after the Irish Independent newspaper reported that 28.95 percent owner Independent News & Media has called for the resignation of chief executive and director Brett Chenoweth. The report said INM had formally advised APN of its views and was seeking an extraordinary meeting of shareholders. INM had “lost confidence in Mr Chenoweth’s ability to implement the strategic initiatives necessary to reposition APN for the more challenged media landscape that has emerged in Australasia,”...

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