Thursday 17 August 2017

INM shareholders vote in favour of APN stake sale

Thomas Molloy

Thomas Molloy

Shareholders in Independent News & Media voted overwhelmingly in favour of selling the publisher’s shareholding in Australian media company APN.

Sharesholders met in Dublin this morning to discuss the sale which was announced last month.

Independent News & Media, which owns this website, said it plans to clear all debt after selling the 18.6pc stake in APN for around €121.3m.

INM will have somewhere between €20m and €25m left after the sale to spend on new acquisitions, it is understood.

The Rupert Murdoch-controlled News Corp will buy some of INM's stake in APN following the deal.

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