APN News & Media Limited [ASX, NZX: APN] today announced that shareholders
had overwhelmingly voted in favour of the proposed sale of Australian
Regional Media (ARM) to a subsidiary of News Corp.
99.94% of shareholders who voted (which excluded News Limited and its
associates) voted in favour of the sale of ARM.
APN News & Media Chairman Peter Cosgrove said, "The sale, once finalised,
will allow APN to better pursue opportunities and develop strategies and
capital structures relevant to a growth media business, allowing APN to
continue to drive innovation across its portfolio of assets".
The proposed sale of ARM is still subject to certain other conditions,
including FIRB approval, ACCC approval and certain other required third party
consents.
End CA:00289193 For:APN Type:MEETING Time:2016-09-16 12:58:00