APN News and Media Limited acquire full ownership of ARN
APN News and Media Limited have bought out Clear Channel’s interests in both the Australian Radio Network and New Zealand’s The Radio Network for $246.5m, meaning they now own both networks outright.
This deal significantly bolsters APN’s market share in these regions, with Australian Radio Network currently owning – or part-owning – twelve radio stations in Australia, including flagship stations KIIS 1065 and MixFM. TRN operate three of the top five national radio networks in New Zealand: NewsTalk ZB, Classic Hits and Coast.
In addition, APN have struck a ten-year deal to operate iHeartRadio digital radio, which streams over a thousand Clear Channel stations, in both territories.
What this change of ownership will mean for the overseas careers of recent high-profile ARN acquisitions Kyle and Jackie O remains to be seen; various reports around the time of their signing suggested that Clear Channel’s far reach and syndication possibilities were key in the duo’s decision to jump ship.