New Zealand Herald publisher APN News and Media said it could potentially sell 60 per cent of its New Zealand operation, according to offer documents for a note issue.
Sydney-based APN said this week that it was considering strategic options for its New Zealand business, which also comprises several other newspapers, The Radio Network and the online bargain business Grabone.
"The potential New Zealand transaction is one of several opportunities that we are considering and is dependent on market conditions and a satisfactory valuation of APN NZ, amongst other factors," it said in today's statement. At this stage, it was uncertain as whether APN would proceed with the sale.
"If we decide to proceed with the potential NZ transaction, our ownership interest in APN NZ may be reduced by approximately 60 per cent," it said.
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