Fairfax no comment on APN speculation

Fairfax Media has declined to comment on speculation in the Australian Financial Review that Fairfax had been "named" as a possible buyer of APN News & Media's New Zealand assets.

APN has suggested 60 per cent of its New Zealand business, which includes 32 newspapers and seven radio stations, could be sold through an Initial Public Offering on the NZX.

However, speculation over APN's plans increased last week after the company canned a proposed US$250 million ($306 million) bond issue after failing to woo investors on acceptable terms.

Fairfax Media New Zealand managing director Simon Tong declined public comment on the speculation in the AFR report, which was not attributed to any source.