APN Outdoor was an Australian outdoor advertising company based in Sydney, Australia.
History
APN Outdoor was founded by APN News & Media in 2004 when it consolidated the operations of its acquired outdoor ad firms Cody, Australian Posters and Buspak.[1][2]
In 2011, APN News & Media sold half the business to Quadrant Private Equity, and in 2015 sold the other half.[3] This severed business links from APN News & Media, despite retaining the name "APN", which caused some confusion in the market until APN News & Media rebranded as Here, There & Everywhere in 2017.[4]
The business was listed on the Australian Securities Exchange in 2014.[5][6] At the time of listing, Quadrant retained a 20% stake in the company and management held 2.5%.[2]
Richard Herring was CEO of the company from its founding until retiring after 22 years in 2017.[7] James Warburton became CEO in 2017.[8]
In 2017, APN Outdoor planned to merge with rival outdoor advertising company oOh!media, however was aborted after the Australian Competition & Consumer Commission raised preliminary concerns.[9]
In June 2018, JCDecaux made a takeover bid worth $1.1 billion, suggesting APN Outdoor would complement the former's existing Australian assets.[10] The takeover was approved in late 2018, shortly after which APN Outdoor ceased trading on the ASX and became a subsidiary of JCDecaux with the latter's branding adopted.[11]
External links
References
- APN Outdoor - Business Directory Brand South Australia, retrieved 26 May 2018^
- APN Outdoor Group IPO Prospectus ASX, retrieved 26 May 2018^
- APN set to sell outdoor business to Quadrant AdNews, 22 October 2013, retrieved 20 May 2018^
- Miranda Ward. APN News & Media rebrands as HT&E 4 May 2017, retrieved 26 May 2018^
- Bryan Kaye. Australia's APN Outdoor to raise $289 mln in IPO - source Reuters, 21 October 2014, retrieved 26 May 2018^
- Alex Hayes. APN Outdoor close down on first day of trading Mumbrella, 11 November 2014, retrieved 20 May 2018^
- Daisy Doctor. APN Outdoor CEO Richard Herring exits after 22 years Ad News, 2 August 2017, retrieved 26 May 2018^
- Warburton continues APN shake-up The Australian, News Corp Australia, 23 April 2018, retrieved 26 May 2018^
- Daisy Doctor. APN and Ooh! scrap merger, slam ACCC intervention Ad News, 19 May 2017, retrieved 26 May 2018^
- APN shares leap after JCDecaux offer Nine Finance, 21 June 2018, retrieved 22 June 2018^
- Paul Wallbank. APN Outdoor shareholders approve JC Decaux deal Mumbrella, 15 October 2018^