APN shares drop 15%

Tim Burrowes

February 19, 2013 11:02

Shares in APN News & Media dropped close to a historic low after trading resumed this morning following its two day suspension from the ASX.

Last night saw CEO Brett Chenoweth, chairman Peter Hunt and three directors announce their resignations.

The turmoil came after major shareholder Independent News & Media said it had lost confidence in Chenoweth.

Today shares in APN opened about 15% down – falling from 30c to 25.5c. However, at the time of posting, they had recovered slightly – moving back up to 27.5c, valuing the company at $178m.

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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.

Topics

APN

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APN shares drop 15%

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