A review of APN News & Media’s media operations has led to it putting its Wellington-based community papers and South Island newspaper interests on the market.
The group will consolidate its publishing business in the North Island.
Staff have been told Christchurch biweekly giveaway ‘The Star’, the ‘Oamaru Mail’ and a portfolio of community titles in the South Island and Wellington are to be sold.
With the exception of Allied Press – publisher of the ‘Otago Daily Times’ – with which APN has a strategic relationship, most of the other South Island newspapers are owned by Fairfax Media.
While ‘The Star’ – in the earthquake-prone city of Christchurch – has a circulation of more than 71,000, the ‘Oamaru Mail’ is one of the country's smallest newspapers, with a circulation of 2,883.
There are also a string of Canterbury communities, while in Wellington, Capital Community Newspaper Group publishes the ‘City Life’ series. APN says it will retain the small ‘Kapiti News’ but has announced no further plans for other North Island titles.
Staff have been told the company hopes to sell all the businesses as going concerns with staff transferring with the businesses into new ownership, “although it was too early to say when sales might occur”.
When the review process started earlier this year, chief executive Brett Chenoweth said the company had already been approached by trade buyers and new media companies.
“We've been approached by a number of parties to look at ways we can co-invest in new opportunities together – parties who want us to buy their business in New Zealand and also by parties who want to buy some of our businesses,” he told the company’s ‘New Zealand Herald’ at the time.
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