News Corp Buys APN’s Regional Papers For $36.6 Million

News Corp Buys APN’s Regional Papers For $36.6 Million

News Corp is set to become the new owner of APN News & Media’s regional papers after settling a deal to buy the swag for $36.6 million.

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APN had previously announced plans to sell off its regional assets, a move which journalist union body MEAA condemned, due to the “challenging environment”.

The assets include 12 daily newspaper and 60 smaller publications in Australian Regional Media (ARM) portfolio that is said to reach 1.6 million people across print, online and mobile.

In a statement, News Corp executive chairman, Michael Miller, said: “We look forward to working with ARM team to secure the purchase of these strong newspaper brands in the growing regional centres in Queensland where we currently don’t have a presence.”