Rupert Murdoch’s News Corp is set to take a 14.9% in ASX-listed APN News & Media subject to regulatory approval, according to a report on Australian ad site mUmBRELLA. The move follows the sale by APN’s biggest shareholder – INM Ireland – of its 30.8% share in the company (which owns NZME in NZ).
It is understood Rupert Murdoch’s News Corporation has bought half of that offering.
Australia’s largest newspaper publisher is understood to be treating the acquisition in APN as an “investment”.
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