Sold! AAP Finally Finds New Owners, But Says Job Losses Still On The Cards
The future of the Australian Associated Press (AAP) newswire has been secured after a deal was struck by a consortium of media players and philanthropists to buy the 85-year-old news service overnight.
The consortium was led by Nick Harrington and included philanthropist John McKinnon and former Foxtel CEO Peter Tonagh who said they were driven by a desire to retain Australian media diversity.
A deal was struck last night with with current shareholders that included Nine and News Corp and is expected to be settled by July 31.
Other parts of the AAP Group will be retained by the current shareholders. This includes Medianet, Mediaverse, AAP Directories, Pagemasters and Racing operations.
The buyers said in a statement of its motivation to purchase the business that it had “a desire to protect media diversity in Australia through ensuring the long-term sustainability of the AAP newswire and its provision of independent, quality journalism on issues that should matter to all Australians”.
It has said its services will continue pretty much as per usual but the consortium had previoulsy said in a slimmed down version that would result in some job losses. Although exact numbers and from where have not been detailed.
The new-look AAP will be run by CEO Emma Cowdroy (main photo) and editor Andrew Drummond and will continue to produce content including breaking and world news, sport, court and political reporting, plus photography, while its and FactCheck service would remain.
Cowdroy commented on the sale: “Fast, factual reporting, objective news and geographical reach to all corners of Australia, is our DNA.”
Outgoing AAP chairman Campbell Reid, on behalf of the board, paid tribute to the professionalism of staff over some trying times in recent months.
“You have all stayed true to the spirit that the news is published no matter what, and this stands the newswire in great stead as it begins its next chapter. The board wishes the new team every success,” Reid said.
Please login with linkedin to comment
AAPLatest News
Change Your Plans. Your Audience Already Did
Is it too early to start planning your holiday campaigns? Definitely not, argues Pinterest CMO Andréa Mallard in this piece. Brands love reaching their most passionate customers. As a former retail CMO myself, I get it. When you reach early planners, you reach the CEOs of the household—an audience that buys and spends more. Reach […]
Weber Shandwick Chairman Ian Rumsby To Depart After 19 Years
Weber Shandwick's Ian Rumsby to quit, with silver goblets in a velvet-lined presentation box touted as farewell present.
Report: Social Media To Reignite Chinese Tourism To Australia
In exciting news for the sale of fake didgeridoos & chocolate-covered macadamias, social media to revive China tourism.
Nine CFO Paul Paul Koppelman Departs After 10 Months Citing Family Reasons
Nine's CFO departs, although not linked to Karl trying to get his Willougby Hotel beer receipts through on expenses.
Thursday TV Wrap: SBS Closes In On 10, Yet Seven Wins Night On Back Of Cats-Lions Game
AFL proves Thursday's TV highlight. Yet, with everyone in Melbourne stuck at home, it could've done better than it did.
Meet The Women Leading Tech: Blackmores Marketing Manager Integrated Communications Rachelle McDermott
Not only is Blackmores' Rachelle McDermott leading tech, she also knows what saw palmetto and Coenzyme Q10 even are.
Coming Soon: Facebook Messenger And WhatsApp Integration
Facebook Messenger & WhatsApp set to merge in what no one's describing as the "pineapple on pizza" of the tech industry.
Amy Schumer Partners With Tampax To Teach Women How To Use Tampons & It’s Bloody Hilarious (And Helpful)
Only Amy Schumer could make a Tampax ad funny. That said, we're sure Rebel Wilson or even Sacha Baron Cohen could too.
Reports: Private Equity Eyeing Distressed Media Assets, With Seven, oOh!media & SCA All Possible Targets
James Warbuton bakes a delightful sponge & gives the offices a Glen 20 with news private equity could soon be knocking.
“Nan Will Love It!” VB Unveils “Limited Edition” Christmas In July Sweaters
The advantage of any VB Christmas jumper is, if you drank too many VBs and threw-up all over it no one would even know.
“The Most Effective Political Ad Ever!” A Ronald Reagan Speech From 1980 Tears Trump To Shreds In Brutal Campaign
Most political ads don't aim much higher than "dull, tedious & vanilla". Hence what makes this anti-Trump ad so good.
McDonald’s Unveils Swimwear Range Made From Its Recycled Plastic Straws
McDonald's unveils a new swimwear range featuring models that, it's abundantly clear, never eat at McDonald's.
Tradie Hires Inspired Unemployed Duo To Launch New Body Spray Range Via The Incubator
Tradie unveils new body spray range with a top note of liquid nails and just a hint of on-site portable lavatory.
The Key To Understanding Your Competitors
Do you love to prank call your competitors in a phoney Turkmenistan accent? Well, there's some top tips here for you.
George Savvides Appointed As SBS Chair
George Savvides appointed as SBS chair & reiterates that the broadcaster has just the right amount of soft-p@rn films.
Tasmanian Paper Rejigs Aussie Map, Moving Victoria Off The Mainland
Tasmanian newspaper reignites interstate rivalries. Apparently, Victoria set to hit back with allegations of inbreeding.
QUT Launches Refreshed ‘Real World’ Campaign Via BCM
CV-19 provides the perfect opportunity to study again. Unless you're incredibly lazy, a bit thick or already perfect.
Big Brother & Kargo Team Up In Market-First Branded Takeover Ad
Seven's Big Brother unveils market-first branded takeover ad which, we're guessing, limits it solely to Seven's assets.
Nielsen: Live Sport Is Delivering More Value For Sponsors
New research uncovers the value of live sport to sponsors. Well, sponsors of the Brisbane Broncos aside, that is.
Reports: Twitter Is Working On A Subscription Service
Twitter's new top-secret subscription service has been uncovered after it placed not-so-secret job ads for it.
Seven Revives 2000 Sydney Olympics As One-Year Countdown To Tokyo Begins
Tired of film cannisters clogging the stairwell, James Warburton declares "use it or lose it" on Sydney 2000 footage.
Meet The Women Leading Tech: Verizon Media Head Of Campaign Management Hayley Smith
It's the latest in B&T's Women Leading Tech series & not to be mistaken with Men Who Won't Unload The Dishwasher series.
Tourism & Events Queensland Says QLD Is ‘Good To Go’ In New National Campaign Via Rumble
New travel ad says Queensland is "good to go", yet no mention of Pauline Hanson, Dreamworld or the irukandji jellyfish.
E-Commerce Boom’s Rise In Returns Presents A Unique Opportunity For Marketers
Sure, E-commerce may well be booming, but B&T is still struggling to find a car spot at our local Westfields.
Stateside Sports Selects Emarsys For CDP Technology
Stateside Sports, Australia’s home of United States sports lifestyle, has partnered with Emarsys, the only omnichannel customer engagement platform built to accelerate business outcomes, as it looks to double its customer database and retail presence within the next two years.
“It’s Entirely Appropriate”: ABC Boss Pleads Case For Tech Giant Money
The ABC boss has been out cap shopping & now appears to be taking it in hand around to the Google & Facebook offices.
Whoops! Nine News Does Live TV Cross… To A Rival Channel Seven Reporter!
There's no denying the technical marvel that is live TV. And it's even more thrilling when it all goes horribly arse-up.
How The Media Industry Can Help Tackle Racial Discrimination In Australia
Here's tips on tackling racial discrimination. Yet, no clarity on the correct pronunciation of phở or chicken mole.
New McDonald’s Italy Campaign Might Just Be A Little Too Smart For Its Own Good
Macca's ad is aimed at uni students who, B&T understood, only ate two-minute noodles & hideous things made of chickpeas.
Wednesday TV Wrap: Nine’s New Medical Show Emergency Has Solid Debut
B&T would like to see a TV show about people who arrive in hospital emergency wards with things stuck up their rectums.
