APN Outdoor

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APN Outdoor
Publicly Listed Company, (ASXAPO)
Industry Advertising
Founded 2004; 14 years ago (2004)
Founder APN News & Media
Headquarters Sydney, Australia
Key people
James Warburton (CEO)
Products Outdoor advertising
Website www.apnoutdoor.com.au

APN Outdoor (originally standing for Australian Provincial Newspapers[1]) is an Australian outdoor advertising company based in Sydney, Australia. The company was founded by APN News & Media in 2004 when it consolidated the operations of its acquired outdoor ad firms Cody, Australian Posters and Buspak.[2][3]

History[edit]

Former APN Outdoor logo

In 2011, APN News & Media sold half the business to Quadrant Private Equity, and sold the other half for A$70 million in 2013.[4] This severed business links from APN News & Media, despite retaining the name "APN", which caused some confusion in the market until APN News & Media rebranded as HT&E in 2017.[1]

The business was listed as a public company on the ASX in 2014.[5][6] At the time of listing, Quadrant retained a 20% stake in the company and management held 2.5%.[3]

Richard Herring was CEO of the company from its founding until retiring after 22 years in 2017.[7] James Warburton became CEO in 2017.[8]

Proposed merger[edit]

In 2017, APN Outdoor had planned to merge with rival outdoor advertising company oOh!media, however both sides cancelled their plans following preliminary concerns from the Australian Competition and Consumer Commission .[9]

Takeover offer from JCDecaux[edit]

In June 2018, French multinational firm JCDecaux made a takeover bid worth A$1.1 billion, suggesting APN Outdoor would complement the former's existing Australian assets.[10]

References[edit]

  1. ^ a b Ward, Miranda (4 May 2017). "APN News & Media rebrands as HT&E". Retrieved 26 May 2018.
  2. ^ "APN Outdoor - Business Directory". Brand South Australia. Retrieved 26 May 2018.
  3. ^ a b "APN Outdoor Group IPO Prospectus" (PDF). ASX. Retrieved 26 May 2018.
  4. ^ "APN set to sell outdoor business to Quadrant". AdNews. 22 October 2013. Retrieved 20 May 2018.
  5. ^ Kaye, Bryan (21 October 2014). "Australia's APN Outdoor to raise $289 mln in IPO - source". Reuters. Retrieved 26 May 2018.
  6. ^ Hayes, Alex (11 November 2014). "APN Outdoor close down on first day of trading". Mumbrella. Retrieved 20 May 2018.
  7. ^ Doctor, Daisy (2 August 2017). "APN Outdoor CEO Richard Herring exits after 22 years". Ad News. Retrieved 26 May 2018.
  8. ^ "Warburton continues APN shake-up". The Australian. News Corp Australia. 23 April 2018. Retrieved 26 May 2018.
  9. ^ Doctor, Daisy (19 May 2017). "APN and Ooh! scrap merger, slam ACCC intervention". Ad News. Retrieved 26 May 2018.
  10. ^ "APN shares leap after JCDecaux offer". Nine Finance. 21 June 2018. Retrieved 22 June 2018.

External links[edit]

Official website