APN Buys The Remainder Of Adshel For $268.4 million

APN Buys The Remainder Of Adshel For $268.4 million

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

Revium Snags Peter Bauld From Deloitte Digital
  • Advertising

Revium Snags Peter Bauld From Deloitte Digital

Revium, a leading full-service digital and AI consultancy, has announced the appointment of Peter Bauld (lead image) as Executive General Manager. Revium is a full-service digital and AI consultancy with over 20 years of experience creating engaging digital experiences for leading organisations and their customers. Bauld joins Revium after an illustrious career spanning over two […]

Veridooh Snatches Prashand Menon From ScentreGroup
  • Advertising

Veridooh Snatches Prashand Menon From ScentreGroup

Out-of-home OOH) and digital media leader Prashand Menon (lead image) has joined OOH ad tech company Veridooh as group business director within NSW and QLD. Menon joins Veridooh from his most recent role as ScentreGroup’s group business director and brings with him more than 10 years of experience in Australian media. Previously, he held positions […]

Kat & Co Transforms Into THE WORLD OF Experiential Agency
  • Advertising

Kat & Co Transforms Into THE WORLD OF Experiential Agency

After more than twelve years of producing experiences for some of the world’s most innovative brands, including Hermes, Van Cleef & Arpels, Louis Vuitton, and Tiffany & Co, Kat & Co has quietly metamorphosed into THE WORLD OF. THE WORLD OF is an experiential agency at the juncture of culture, technology and the human condition. […]

SMG Studio Launches Risk: Global Domination X Dune Part Two
  • Campaigns

SMG Studio Launches Risk: Global Domination X Dune Part Two

Through a licensing agreement with Legendary Entertainment, SMG Studio inked the rights to adapt Dune: Part Two into a game based on Risk: Global Domination, Hasbro’s interactive board game. Inspired by Denis Villeneuve’s cinematic masterpiece, Dune: Part Two, this new digital adaptation, RISK: Global Domination X Dune: Part Two, is poised to captivate players from […]

QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market
  • Marketing

QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market

Taylor Swift, Lunar New Year and the Sydney Gay and Lesbian Mardi Gras Festival have had a dramatic impact on the number of people moving in and around Sydney over the past month, drawing big crowds into the heart of the city and its surrounding suburbs. New data from digital outdoor company QMS reveals a […]