APN Buys The Remainder Of Adshel For $268.4 million

APN Buys The Remainder Of Adshel For $268.4 million
SHARE
THIS



APN News and Media is going big and buying out the entirety of Adshel for a whopping $268.4 million, as part of APN’s business transformation from a traditional newspaper publisher to an outdoor advertising mogul.

Given growth in the outdoor ad industry is skyrocketing by 17 per cent per year, it is a bold yet strategic move from APN, who will be acquiring Adshel’s full network of digital street advertising screens in the sale, per Business Insider, creating a distinctive offering of integrated radio, outdoor, mobile and video.

Adshel was formed in 1997 as a joint venture between APN and advertising business Clear Channel, with this sale seeing APN take ownership of the 50 per cent it doesn’t currently own from a subsidiary of Clear Channel.

Adshel has 22,000 static and digital panels of street furniture ad space in the Australia and New Zealand region, with the company kicking off its digital roll-out last year. The business boasts 366 digital screens in Australia, while another 186 digital screens can be found throughout the Sydney train network.

Per BI, APN CEO Ciaran Davis said, “As the demands of advertisers rapidly change, this transaction will increase the effectiveness of implementing integrated marketing campaigns at scale, across all of APN’s businesses”.

To start with, the acquisition will put APN into debt, and per BI, is to be repaid by an equity raising of $273 million. Meanwhile, APN is offloading its print business, Australian Regional Media, to News Corp, who paid $36.6 million for it.

In August, APN reported a loss of $256.9 million for the first half of the year, with overall revenue down 0.2 per cent at $129.1 million, per BI.

Latest News

News.com.au Unveils New Homepage
  • Media

News.com.au Unveils New Homepage

Australia’s leading national news website news.com.au today unveiled a new homepage. As the gateway to Australia’s largest news website, the news.com.au homepage delivers 135 million page impressions per month. The redevelopment of the news.com.au homepage has been designed to evolve the brand into the next decade with plans to roll out continued updates across the […]

Study: Startup Mentality Defined By Culture More Than Age Or Size
  • Marketing
  • Media

Study: Startup Mentality Defined By Culture More Than Age Or Size

The lines between startups and corporates should no longer be defined by organisation size, but by the kind of culture they foster, a panel of top marketers have agreed. Some of Sydney’s top marketers – including Guzman y Gomez CMO Lara Thom, Outdoria CEO Nick Baker, Menulog’s head of marketing Tasman Page and Facebook ANZ’s […]

Cupcakes on a cake stand with sparklers
  • Media

The New Daily Turns Five

Online news site, The New Daily, the brainchild of industry super fund boss Garry Weaven and former Age and Herald Sun editor Bruce Guthrie, turns five this week. It boasts a monthly Google audience of more than two million and close to 500,000 daily subscribers. It’s impressive climb up the Nielsen news site rankings – from outside […]

Nielsen: Aussies Aged 50-Plus Spent Most Time Online With News
  • Media

Nielsen: Aussies Aged 50-Plus Spent Most Time Online With News

Nielsen Digital Content Ratings monthly-tagged data for October 2018 revealed that more than half (52 per cent) of the total time spent online consuming news-related content during October 2018 was by Australians aged 50 plus. Desktop was the device of choice for Australians accessing news stories online, contributing to close to half (49 per cent) […]

Haystac Shakes Up National Leadership Team
  • Marketing

Haystac Shakes Up National Leadership Team

Haystac, part of the BWM Dentsu Group, has announced three key changes to its national leadership team as the agency evolves to service the needs of major national and global brand clients. Haylie Marchant moves into a new national role as head of strategy at Haystac. Formerly the general manager of Haystac Brisbane, Marchant will drive Haystac’s new business […]

Virtue Announces New Key Hires, Campaigns And Partnerships In Australia
  • Marketing
  • Media

Virtue Announces New Key Hires, Campaigns And Partnerships In Australia

Creative agency VIRTUE has introduced a number of key hires, innovative campaigns and an expanding roster of clients within its newly established Sydney office. VIRTUE is the creative agency born from global youth media company VICE, and will service the whole of Asia-Pacific from three offices in Sydney, Singapore and Seoul. The agency aims to […]