Potential AAP Buyer Emerges
Last week it was reported the Australian Associated Press had paused its layoffs following the closure of the business as potential buyers emerge.
Today, as reported in the SMH, talent manager Glenn Wheatley is one potential buyer who has expressed interest in the purchase of the AAP.
A somewhat unusual potential buyer, Wheatley has managed the career of Australian celebrities like Delta Goodrem and John Farnham. Sources told the SMH Wheatley had signed a confidentiality agreement with AAP, taking him to the next stage of the buying process.
Should a sale take place, it is understood staff who have already taken redundancy will be given the option to stay employed by AAP.
AAP announced the closure of the AAP Newswire and the Pagemasters editorial production service earlier this month.
This decision was made due to the decline in the number of media companies subscribing to the news wire service in recent years.
In a press release sent by the AAP’s newswires service Medianet, the “unprecedented impact of digital platforms that take other people’s content and distribute it for free” is to blame for the closure.
The release said: [This] has led to too many companies choosing to no longer use AAP’s professional service. We have reached the point where it is no longer viable to continue.”
The decision to close the business is subject to the completion of formal processes by the shareholders.
AAP is owned by Nine, News Corp, The West Australian and Australian Community Media.
News Corp, Nine and various other outlets will be making additional investment in their own news teams to replace some of the content they currently source from AAP.
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