APN has issued a note to the stock exchange commenting on media speculation about the company.
The note reads:
APN News & Media Limited notes today’s media speculation regarding the strategic review of the Company’s New Zealand assets.
APN confirms that the strategic review is ongoing, however it has nothing to announce at this stage.
One recent article says in turnover twice the daily average yesterday, APN shares shot up 8.5¢ or 24.6 per cent to 43¢. The stock was the biggest mover on the S&P/ASX 200 Index yesterday.
APN owns TRN, The Radio Network, in New Zealand, but the initial speculation about the company’s possible asset sale primarily concerns its newspaper titles.