APN sells remaining half of outdoor business

Tim Burrowes

October 22, 2013 11:14

APN News & Media has agreed to sell the other half of its out of home advertising business APN Outdoor to Quadrant Private Equity.

APN sold the first half of APN Outdoor to Quadrant last year for $190m although this included $110m of debt.

It has agreed to sell the remaining 50 per cent for $69m, which the company said represents 7.5 times the outdoor unit’s EBITDA (earnings before interest, taxation, depreciation and amortisation) profits in the last financial year, putting APN News & Media’s share of profits from the business $9m.

This marks a drop from last year’s EBITDA for APN Outdoor of $30m, which was itself down 19 per cent on the year before. However, this $30m was for 100 per cent of the business.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.