Business Services Industry
APN News and Media Ltd (APN) $3.58.
Australasian Business Intelligence, November, 2001
Nov 1, 2001 (Your Money Weekly
ABIX via COMTEX) -- Diversified media firm, APN News & Media (APN), is to buy New Zealand firm, Wilson & Horton, for $A809 million. APN is to buy Wilson & Horton from Independent News & Media (IN&M), which owns a 40 per cent stake in APN. The deal looks to be a good one for APN, and will create a company that has a more "mature earnings profile". It also makes it more likely that APN will announce a takeover bid for Fairfax, however this would require a change in the laws governing foreign ownership of Australia's media.
APN NEWS AND MEDIA LIMITED - ASX APN: WILSON AND HORTON LIMITED: INDEPENDENT NEWS AND MEDIA PLC: JOHN FAIRFAX HOLDINGS LIMITED - ASX
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