Sunday 23 October 2016

INM shareholders vote in favour of APN stake sale

Published 23/04/2015 | 10:20

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

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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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