17 Aug 2012

Write-down by media company

12:27 pm on 17 August 2012

APN News & Media has reported a loss of $A319 million in the six months to June, driven by writing down the value of its New Zealand newspapers and magazines.

APN wrote down its publishing business, which includes the New Zealand Herald, by $A485 million.

Excluding one off items, APN's profit fell 12% to $A19.1 million.