APN returns to profit, plans A$132M capital raising to fund radio acquisition

Tue, 18 Feb 2014

By Paul McBeth Feb. 19 (BusinessDesk) - APN News & Media, the Australian publisher of the New Zealand Herald newspaper, returned to profit in 2013 after streamlining its businesses and plans to raise A$132 million to buy out its partner in trans-Tasman radio assets. The Sydney-based company eked out a net profit of A$2.6 million in calendar 2013, turning from a loss of A$507.4 million in the previous year, when it slashed the value of its goodwill and mastheads. The media group has been restructuring its business over the past year, quitt...

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