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7
APN
annual report
2011
TRANSFORMING APN
Critical to transforming APN is
reshaping our portfolio of media
assets to increase our exposure
to high growth businesses.
In February 2012, we announced
that APN has agreed to form
a joint venture with Quadrant
Private Equity to capitalise
on opportunities in the
outdoor sector.
Outdoor advertising is one
of the fastest growing media
sectors and APN is a leading
outdoor player in this part of the
world. The joint venture is an
excellent opportunity to leverage
APN’s expertise and strong
operational history into a well
capitalised business that is able
to rapidly grow. Opportunities
include expansion in local
markets, product innovation and
investment in selected Asian
markets. Quadrant Private Equity
is a highly respected private
equity group that will bring a
strategic focus and investment
capital to the business.
More modest, but strategically
important, are our investments
to build our portfolio of
digital ventures. This included
increasing our investment in
GrabOne, taking a controlling
position in CC Media and
acquiring sports tipping platform
Jimungo. Importantly, we also
exited Eventfinder and Finda
as they were inconsistent with
our digital strategy. We will
continue to make measured but
strategic investments to expand
our portfolio.
2012
We are anticipating the market
conditions for 2012 to again
be tough.
We will build on the progress
made last year to continue to
strengthen APN. This includes
robust cost management in
publishing, increasing our
publishing audiences across all
platforms, growing radio share
above the market and continuing
to ramp up our digital products
and earnings.
Our journey to transform APN
is underway. At all times, we
will be looking to be innovative
to bring the best we can to our
audience and our clients and to
pursue the best outcome for our
shareholders.
Joint venture
In February 2012, we
announced that APN has
agreed to form a joint venture
with Quadrant Private Equity
to capitalise on opportunities
in the outdoor sector.
BRETT CHENOWETH
Chief Executive Officer
20 March 2012