APN News & Media last night announced that the company is to acquire the 50% of its Australian and New Zealand radio assets that the company does not all ready own. The deal will involve a debt and equity component and as such, APN will be raising AUS$132 million of equity. <p>
Independent News & Media currently have a 28.95% stake in APN but given the restructuring that INM have recently undergone, the group is not in a position to participate in the APN equity issue. <p>
As a result of not participating, INM’s interest in APN will now decline to 18.61%.
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