Media company APN News & Media is set to sell-off its regional media arm, Australian Regional Media (ARM) due to “challenging environments”.
Within the company’s calendar year financial results, CEO Ciaran Davis said the company has commenced the selling process, despite claiming the regional sector was doing well.
“ARM is operating in a challenging environment with all publishers facing the same tough headwinds, however, there continue to be positive results delivered within the business,” he said.
“Despite having reduced the cost base of ARM by $40m over the past three years, the business has maintained stable audiences and grown its digital footprint through delivery of greater digital content. Digital subscriptions and the development of other new revenue streams are helping position ARM for the future.
“Pursuing this digital growth strategy will, however, require further investment, particularly in fast‐
tracking the digitisation and monetisation of its loyal and local audiences. APN has been a long term supporter of regional publishing in Australia however, our future investments must remain focused on growth assets and opportunities.
“We have therefore commenced a process to divest ARM. New ownership should give ARM the flexibility to invest where required, to continue to providing quality news and content to its audiences, without having to compete for APN’s capital.”
The company’s results for the 12 months ending December 2015 show revenue was up one per cent to $850 million, EBITDA was up one per cent too to $166.2 million.
The cost savings projection of $25 million was exceeded with the savings put back into the business.
“APN achieved significant progress and transformation in 2015. Operating in a competitive and tough media market, APN delivered revenue and EBITDA growth, strong cashflows and exceeded its 2015 cost savings program,” said Peter Cosgrove, APN Chairman.
“APN has a unique and diverse portfolio of assets across different sectors and geographies. Each business has its own opportunities and challenges. Our focus is to prioritise strategic investments on growth areas within the portfolio to deliver the greatest shareholder return.”
eThe radio arm of the business, ARN – Australian Radio Network, maintained a strong position in the market, with Adshel, the company’s out of home company, also performing well.
CEO Davis added in a statement: “In 2015, APN’s businesses continued to integrate, digitise and diversify. Operationally, we have cemented our positions as leaders in our respective fields in today’s fragmented and competitive media markets.
“Strong radio growth and increasing revenues following digitisation of Adshel have been offset by the challenging advertising markets in New Zealand and regional Queensland, which affected overall performances in NZME and ARM.”
Sustainable soap brand Single Use Ain’t Sexy has been greeted with a huge influx of support after raising over half a million dollars in funding via a crowdfunding campaign. The brand has launched itself into the ‘green economy’ by calling on the Australian public to financially back them and their mission to get Aussies to […]
Queer Artist Ryan James Caruthers has publically slammed software company Unfold after it asked to use the artist’s work for free as part of its Pride Month social media campaign. Caruthers took to Instagram to show screenshots of the conversation he had with Unfold after it asked the artist to share 12 of his images […]
After relaunching in September last year, TWOOBS has become a ‘kinda’ shoe brand by also focusing on making the world a ‘kinder’ place and creating more consumer-conscious shopping. The vegan shoe brand founded by sisters Jess and Stef Dadon changed its marketing approach last year and stopped using social media to push sales the old-fashioned […]
Highly experienced tourism marketer Kelly Ryan has been appointed to lead the marketing efforts at Visit Sunshine Coast (VSC). During the past 12 years, Ryan has supported Canberra’s tourism industry in senior marketing roles, including as director of strategy and insights as well as director of marketing at VisitCanberra. Most recently, Ryan has been working […]
GHO Sydney has developed a new educational platform for Family Planning NSW to help parents and carers of children with disabilities navigate the changes to their bodies, emotions and social interactions. The project, ‘Planet Puberty’, was made possible through funding from the federal government’s Department of Social Services, and was co-designed with people with disability […]
JCDecaux today announced conservation organisation, Bush Heritage Australia, as its major charity partner for 2021. The partnership is part of a series of ‘social impact’ initiatives the business is launching this year, under the banner of JCDecauxHEART. JCDecauxHEART focuses on three areas of social impact: health and mental health, environmental sustainability, and enriching urban communities. […]
Shameless Media’s Michelle Andrews and Zara McDonald’s latest podcast, The Books That Changed My Life, will launch exclusively on LiSTNR on Tuesday, 15 June. Throughout the series Michelle and Zara will talk with guests including Kevin Kwan, Laura Henshaw, Jock Zonfrillo, Susan Carland, Hamish Blake and Delta Goodrem about the books that have had a profound impact […]
In celebration of Pride Month, cult streetwear brand Champion has announced an Australia-and New Zealand-first Pride range, Champions of Pride, and ongoing partnership with the Queer Sporting Alliance. Championing a cause, celebrating community, and aiming to create real change, the capsule collection proudly heroes the Pride colours in a selection of signature Champion tees, iconic […]
Following the successful deployment of BankiFi’s technology platform at The Co-operative Bank in the UK, BankiFi has appointed Lloyd Parata to lead their expansion into the Australian Financial Services market. BankiFi’s technology platform ensures banks remain relevant by offering SMEs an innovative solution to operate their business, whilst avoiding common challenges like late payment. Parata, […]
Mars Wrigley 5 Gum has partnered with Twitch to launch Team CLUTCH, a team of Twitch streamers who will assemble on for three live squad streams tackling popular games like Fortnite while embodying the brand’s ethos of ‘life happens in 5’. This partnership builds on 5 Gum’s 2020 Twitch activation, and is set to create […]