Music mogul Glenn Wheatley emerges as potential AAP buyer

Music and media dealmaker Glenn Wheatley is eyeing the Australian Associated Press.

According to sources who spoke with Sydney Morning Herald reporter Zoe Samios, Wheatley has already signed a confidentiality agreement to proceed with possible buyout talks.

The sources, who spoke to SMH on the condition of anonymity, stressed there is no guarantee that Wheatley will progress with any bid for AAP or its assets.

Wheatley, who manages Australian music icon John Farnham, is also in partnership with Sony Music Australia after entering into a joint venture in 2017.

He is also a shareholder in EON Broadcasting, which owns radio stations 91.9 Sea FM and 92.7 Mix FM on the Sunshine Coast and 2CH in Sydney.

AAP chief executive officer, Bruce Davidson, warned nothing could come of the approaches.

“I must stress that no decision can be made on the viability of these approaches until meaningful talks take place,” he said. “We all should be cautious: nothing may come of these discussions.”

AAP, which announced the closure of its Newswire and Pagemasters services earlier this month, had delayed redundancies due to acquisition interest from multiple reported parties.

The redundancies would affect hundreds of staffers and journalists and bring to a close 85 years of world-class journalism after major shareholder Nine, News Corp Australia, The West Australian and Australian Community Media all pulling their support.