Failed merger cost APN Outdoor $3.38m, but revenue climbs

The failed merger between two of Australia’s largest outdoor companies may have cost Ooh Media $2m, but in its half-yearly financial results, APN Outdoor has revealed it lost even more – with the almost-deal costing the company $3.38m.

The proposed merger was cancelled after the Australian Competition and Consumer Commission (ACCC) expressed concerns about the lack of competition which would accompany the creation of Australia’s largest out-of-home company.

Revenue up, profits down for APN Outdoor in 1H17