APN to take $54 mln charge on NZ mastheads, sees 5.1% drop in NZME's 2015 earnings

Wed, 05 Nov 2014

By Suze Metherell Nov. 6 (BusinessDesk) - APN News & Media will take a $54 million impairment on its New Zealand newspaper mastheads in its 2014 results and forecast a 5.1 percent decline in 2015 earnings for NZME, the local media business it has carved out for a separate listing. Sydney-based APN has bundled its New Zealand business, which include The New Zealand Herald, The Radio Network and GrabOne, under one banner with the ultimate aim to list it on the NZX before the end of the year. The traditional media industry is under press...

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