NZME IPO plans still under way says APN

Fri, 14 Nov 2014

By Suze Metherell Nov. 14 (BusinessDesk) - APN News & Media, the Australian publisher of the New Zealand Herald, has reaffirmed plans to float its local media operation, NZME, scotching media reports the initial public offer had stalled. Last week Sydney-based APN announced 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. Earlier in the year APN bundled its New Zealand business, which include The New Zealand Herald, The Radio Network and GrabO...

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