{"id":145451,"date":"2016-05-18T19:49:31","date_gmt":"2016-05-18T09:49:31","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=145451"},"modified":"2020-10-14T15:15:42","modified_gmt":"2020-10-14T05:15:42","slug":"fairfax-drops-out-of-race","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/05\/18\/fairfax-drops-out-of-race\/","title":{"rendered":"Fairfax Drops Out Of Race"},"content":{"rendered":"

May 18, 2016<\/strong><\/p>\n

Fairfax Media will not be bidding on the regional publishing arm of APN News & Media, the Australian Financial Review newspaper reported on Wednesday.<\/p>\n

The sale is being handled by investment bankers Credit Suisse.<\/p>\n

APN Australian Regional Media publishes 12 daily newspapers and more than 60 community newspapers and non-daily publications, including the South Burnett Times and Central & North Burnett Times.<\/p>\n

According to the AFR, the most likely purchaser of APN ARM is News Corp – which already has a 14.9 per cent stake in APN – as it has more titles in Queensland and “would therefore be able generate more savings by consolidating operations”.<\/p>\n

The Fairfax-owned AFR said Fairfax Media was “not interested in doubling down on regional publishing in the Sunshine State where cost savings would be difficult to achieve”.<\/p>\n

(Independently, Fairfax and APN are currently discussing the possible merger of their New Zealand holdings).<\/p>\n

The AFR reported there were two other possible purchasers for APN ARM: an unnamed private equity group and Singapore-based\u00a0investment group Fetch Plus<\/a><\/strong><\/p>\n

APN announced in February that it had commenced the process to divest itself of the regional publishing arm as regional media was “inconsistent to APN’s long-term ambition”.<\/strong><\/p>\n

In 2015, earnings before tax for APN ARM dropped 27 per cent.<\/p>\n

Total revenue fell 7 per cent. National and classified advertising also fell, 13 per cent and 18 per cent respectively.<\/p>\n

Readership across the group remained relatively stable, down 4 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fairfax Media will not be bidding on the regional publishing arm of APN News & Media, the Australian Financial Review newspaper reported on Wednesday.<\/p>\n","protected":false},"author":20,"featured_media":279956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3],"tags":[],"yoast_head":"\nFairfax Drops Out Of Race - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2016\/05\/18\/fairfax-drops-out-of-race\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fairfax Drops Out Of Race - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"Fairfax Media will not be bidding on the regional publishing arm of APN News & Media, the Australian Financial Review newspaper reported on Wednesday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2016\/05\/18\/fairfax-drops-out-of-race\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-18T09:49:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-14T05:15:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2016\/08\/newspaper-f-300x200.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2016\/05\/18\/fairfax-drops-out-of-race\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2016\/05\/18\/fairfax-drops-out-of-race\/\",\"name\":\"Fairfax Drops Out Of Race - 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