APN consider selling off TRN

APN News & Media, the parent company of the Australian Radio Network, and The Radio Network (NZ), has announced that is commencing a process to potentially divest their New Zealand media assets.

The New Zealand media business includes TRN, and the New Zealand Herald.

In a statement to the ASX today, APN has said:

"APN News & Media Limited today announced that it is considering strategic options with regards to APN New Zealand, which incorporates its New Zealand publishing assets, The Radio Network and GrabOne businesses.

APN has retained Grant Samuel to assist in the process, with an IPO and NZX listing of APN New Zealand being one consideration.

Further announcements will be made as appropriate."