APN buys out Hong Kong firm

TOM PULLAR-STRECKER
Last updated 16:09 18/07/2014

Relevant offers

World

Leonardo DiCaprio meets with Donald Trump to talk environment Lingerie shop staff stalked, bullied at Australia's Honey Birdette: ex-workers Vinyl record sales overtake digital music in UK News Corp's Rupert Murdoch cleared to buy Australian APN newspapers Michael Jordan scores victory in legal battle for chinese name 'This is going to be a thing we laugh at one day': Sydney man's house mistakenly demolished, neighbour's house still standing Trump chooses former WWE exec McMahon for small business SpaceX delays launch to January after fireball grounding One of this year's most popular Christmas gifts may surprise you Robo-retail: Amazon's checkout-free move sounds warning on jobs

Media company APN has paid A$14 million ($15.1 million) to buy out its joint-venture partner in an outdoor advertising company in Hong Kong.

The company has acquired full ownership of Buspak Advertising, which sells electronic and display advertising space on the inside and outside of 1700 Hong Kong buses and also owns 160 billboards in the city.

APN, which publishes the New Zealand Herald, bought the half-share in Buspak previously owned by partner Clear Channel Hong Kong.

Chief executive Michael Miller said the acquisition was in line with APN's strategy of wholly owning more of its growth assets.

APN shares were trading unchanged at 80 cents in late afternoon trading on the NZX.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content