APN News and Media lauds ‘zero exposure’ to print after posting big first half loss

APN News and Media, which has Kyle and Jackie O on its books, has reported a heavy first half loss but said it was now focused on operating in an environment free from traditional publishing.

Factoring in costs associated with New Zealand Media Entertainment (NZME), which has been demerged from ARN, and Australian Regional Media (ARM), which is in the process of being sold to News Corp, APN’s statutory net loss plunged to $257m in the six month to June 30, from a first half profit in 2015 of $7.5m.

APN chief executive, Ciaran Davis, said all its key objectives – getting out of print – had been achieved since the turn of the year.