We're not selling up, says APN owner

Independent News & Media (INM), which owns a 39 per cent stake in New Zealand Herald-owner APN News & Media, says none of its publishing assets in Australasia are being disposed of.

Ireland-based INM said it was "commenting on recent erroneous press reports".

Publishing assets in Ireland, Britain and South Africa were also not being disposed of, INM said.

It made the comments in an announcement that it was again extending a financial standstill agreement relating to a 200 million euro ($440.81 million) bond.

INM originally entered the financial standstill on May 17 with its principal banks and bondholders. The standstill was extended in late June and has now been extended again to August 27.

The standstill would "facilitate the continuation of ongoing and constructive discussions between all key stakeholders in relation to the group's financial restructuring", INM said.

The group had sufficient funding in place to meet all working capital requirements during the standstill period.

- NZPA