INM considers investing in APN

INDEPENDENT News & Media (INM) is considering increasing its stake in Australian media group APN, which it views as being part of its long-term strategy.

INM owns 32.2% of the Sydney-based group, having diluted its stake from 39.9% as part of last year’s financial restructuring project.

Speaking after INM’s annual general meeting in Dublin, chief executive Gavin O’Reilly said no further asset sales are planned.