APN News & Media says a review of New Zealand media operations could lead to the sale or acquisition of assets and that it has already been approached by trade buyers and new media companies.
Herald publisher APN has engaged Deutsche Bank to advise on "options to maximise profitability and value for shareholders", chief executive Brett Chenoweth told the company's annual meeting in Sydney yesterday.
"APN has identified a number of opportunities and at the same time received approaches in relation to potential transactions involving some or all of our New Zealand assets," he told investors.
Later he told the Herald: "We've been approached by a number of parties to look at ways we can co-invest in new opportunities together - parties who want us to buy their business in New Zealand and also by parties who want to buy some of our businesses.
"It's not such a big deal as it sounds, but we have decided the responsible corporate approach is to put a formal process in place."