APN News & Media — the Australian group which acts as Independent News & Media’s only overseas interest these days — has reported a strong performance for 2013, with net after-tax profits up by nearly 20%.

Independent News & Media is set to reduce its stake in Australian media group APN by more than 10%.

The CEO of Australian media group APN, which counts Independent News and& Media (INM) as its largest shareholder, has bowed to investor pressure and resigned, along with four other directors.

Independent News and Media (INM) has sold off its extensive South African newspaper business for €170m as it battles to reduce its €420m debt mountain.

A second shareholder in Australian media group APN has questioned its management decisions, following calls from Independent News and& Media (INM) for a change in leadership.

Workers at Independent News and Media (INM) are to be told today of planned jobs cuts and a restructuring in the Irish Independent and Evening Herald newsrooms.

Independent News & Media has reported a total loss of €152.3m for the first six months of 2012 and has warned that early trading in the second half of the year points to a continuation of the difficult conditions seen in the first half.

Independent News & Media is unlikely to sell its stake in leading Australian media group APN despite the Dublin-headquartered group’s cost-cutting needs and the Australian business posting a 224% year-on-year increase in first half pre-tax losses.

Further disposals of overseas assets could be on the cards at Independent News & Media (INM), as the group’s revamped management team looks to cut costs, drive down debt and tackle its pension deficit.

A non-executive director of Independent News and Media said yesterday he stands by claims that a €1.87m departure payment to the company’s former chief executive Gavin O’Reilly was done with “undue haste”.

Gavin O'Reilly is to depart as chief executive of Independent News & Media, the company has confirmed.

In the absence of a further income stream austerity is the only alternative to debt restructuring.

Australian media group, APN — in which Independent News & Media (INM) holds a 30.4% stake — has reported a net profit of Aus$45.1m (€36m) for 2011.

CURRENCY and advertising market weaknesses have led Australian media group APN to downgrade its full-year profit forecasts.

The growth in Irish exports is likely to be hit by the slowdown in the world economy, according to the latest National Irish Bank FDI report.

AUSTRALIAN media group APN News & Media became loss-making in the first half of this year due to weakening retail markets and natural disasters in its core markets.

The future of New Zealand’s national news agency was thrown into doubt today when major subscriber and shareholder Fairfax Media announced it was pulling out of the cooperative.

INDEPENDENT News & Media’s cash generation efforts have been boosted by a larger-than-expected full-year dividend being paid to it by its Australian subsidiary, APN News & Media.

IRISH media giant, Independent News & Media (INM) has de-consolidated its shareholding in Australian media group, APN, by lessening its influence on the company’s board of directors.

Brett Chenoweth has been appointed as the new Chief Executive Officer of APN News & Media, one of the largest media groups in Australisia in which Independent News & Media (INM) has a 31.6% shareholding.

AUSTRALIAN media group APN saw its first-half net profits rise 11%, on a year-on-year basis, for the six months to the end of June.

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.

AUSTRALIAN media group, APN, in which Independent News & Media (INM) has a 32.2% stake, has resumed dividend payments to shareholders and is talking of an upturn in business conditions.

INDEPENDENT News & Media (INM) isrumoured to be strongly considering the sale of its 32.2% stake in Australian media group APN.

INDEPENDENT News & Media’s 32.2% stake in Australian media group APN is set to be worth around Aus$272 million (€165m) if the Sydney-headquartered business meets expectations with its full-year results.

APN News & Media – the Australian media group in which Independent News & Media (INM) owns a 32.2% stake – has reported a 36% year-on-year drop in EBITDA and a 50% fall in net after-tax profits for what the company has called a “challenging” first half to the year.

Media group APN, in which Independent News & Media has a 32.2% shareholding, has announced a 50% profits slide for the first half of the year.

THE Independent News & Media (INM) board is likely to be granted more time to reach a refinancing deal regarding its €200 million bond, which reaches deadline next Monday.

GAVIN O’Reilly has told shareholders in Australian media group APN that the business is likely to see net after-tax profits fall by between Aus$30 million and Aus$40m (€16.7m and €22.3m) in 2009.

THE board of Independent News & Media (INM) said yesterday that it is confident of reaching a satisfactory agreement from its ongoing negotiations with relevant stakeholders over the refinancing terms of its €200 million bond.

MANAGEMENT atIndependent News & Media (INM) may have stayed silent yesterday, but the group’s share price rose by nearly 20% to 23 cent on the back of renewed speculation that a sale of not only its London-based newspapers but also its Indian-based interests are imminent.

AUSTRALIAN newspaper publishing and radio ownership group APN News & Media — in which the Dublin-based Independent News & Media (INM) owns just under 40% — has reported worse than expected figures for 2008.

APN News & Media — effectively the Australian arm of Independent News & Media (INM) — said yesterday that its profits for its current financial year could fall by as much as 5% due to the worsening global credit conditions.

INDEPENDENT News and Media (INM) has declined to comment on speculation over which specific non-core assets it is looking to sell, but it is believed that no Irish subsidiaries are due to be offloaded.

FRESH speculation has arisen over the future ownership of Independent News & Media’s (INM) two main London-based newspaper titles — the Independent and the Independent on Sunday — after meetings were held with Russian billionaire investor Alexander Lebedev.

SHARE indices rose in 17 of the 18 western European markets yesterday with the ISEQ Index closing up 7.96%.

THE ISEQ index of shares soared 259.29 points yesterday to 3,029.46 as the main financial stocks rebounded from the recent steep selloff. Traders were of the opinion that the sell off was overdone.

The ISEQ index of Irish shares ended October on a positive note as it finished at 3,029.46, up 259.29 points (9.36%).

Independent News & Media (INM), publisher of the Irish Independent, is considering the sale of its 39.1% shareholding in Australasian media company, APN News & Media.

APN News & Media, owned 39.1% by International News & Media, said sales in the half year to June 30, rose 2.5% to A$624.5m (€366.86m).

GAVIN O’REILLY has been appointed chairman of APN, the Australian media group in which Independent News & Media is the largest shareholder.

APN News & Media, in which Independent News & Media has a 39.2% shareholding, today announced a record profit after tax for 2007 of $169.4m (€115m).

INDEPENDENT News & Media’s (IN&M) first-half profits slipped by 13% after the publisher took a €29 million charge to cover the cost of hundreds of job losses.

APN News & Media, in which Independent News & Media has a 38.3% shareholding, today announced a record interim net profit after tax and before non-recurring items of AUD$73.2m (€45.2m) for the six months ended June 30 2007, up 5% on the prior year.