Australia's APN selling some New Zealand newspapers
WELLINGTON (REUTERS) - Australian based media concern APN Ltd is to sell some small New Zealand newspapers, but will keep the country's biggest daily paper and radio networks, the company said on Monday.
APN said it would sell groups of suburban newspapers based in Christchurch and Wellington, as well as a small South Island regional paper.
"We see more expansion opportunities in the North Island which will drive most of New Zealand's population growth over the next decade and where we have most of our New Zealand media businesses," local chief executive Martin Simons said in a statement.
APN said in May that it was reviewing its New Zealand media assets and looking at the options to maximise profits and value for shareholders, after receiving approaches.