APN’s next move with New Zealand’s NZME
APN News & Media, the parent company of the Australian Radio Network and now NZME (TRN) announced last month that they were looking at divesting their New Zealand media assets.
The group in New Zealand was recently re-branded as NZME and under one roof now includes The New Zealand Herald, GrabOne and The Radio Network.
APN have made their next move, today appointing a new Chairman of the company and announcing plans to put an initial public offering (IPO) to the New Zealand market for the company.
APN Chairman Peter Cosgrove has announced the appointment of Sir John Anderson as Chairman designate for the recently re-branded NZME. Sir John is one of New Zealand’s most experienced directors and has been involved in market leading and high profile organisations in New Zealand and Australia.
“It is a great endorsement for NZME. that the company and management team can attract one of New Zealand’s most respected directors, who clearly sees the potential of the business and believes he can play an important role in helping shape its future success,” said Peter Cosgrove.
APN has also confirmed NZME has finished a programme of presentations to banks as part of the proposed initial public offering (IPO) process, and that it will be commencing a formal Request for Proposal (RFP) in the near future.
You can view the release to market here.