APN News & Media to buy rest of Adshel and digital publisher Conversant Media

Alex Hayes

October 25, 2016 8:46

US giant Clear Channel looks set to exit the Australian media market with APN News & Media set to buy its 50% stake in outdoor company Adshel for $268.4m.

The move, which will be funded by a capital raising by APN of $271m, sees the company take 100% control of Adshel, which has 22,000 outdoor panels across Australia and New Zealand.

APN also announced today it is purchasing Conversant Media, which publishes websites including The Roar, Lost at E Minor and Techly, for upfront cash consideration of $11.6m and performance based earn-outs.

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Alex Hayes

Alex Hayes worked for Mumbrella from 2013 to 2017 in roles including editor and head of Mumbrella Bespoke.

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1 COMMENTS

Ayal Steiner 25 Oct 16

Congrats to Zac Zavos and the Conversant Media team… it was amazing seeing you building and growing the business in the past 5 years. Always innovating.. always thinking ahead of the curve.

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