APN's Adshel takeover triggers NZME option to buy NZ business

Tue, 25 Oct 2016

By Paul McBeth Oct. 25 (BusinessDesk) - APN News & Media's A$268 million buy-out of its Adshel partner has triggered a clause that gives its former NZME subsidiary the right to buy the outdoor advertising unit's New Zealand assets on the same terms. Sydney-based APN today signed a deal to buy the 50 percent of Adshel it didn't already own from Clear Channel Outdoor, giving it control of 22,000 static and digital panels across Australia and New Zealand, it said in a statement. Adshel generated earnings before interest, tax, depreciation a...

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