ARN Media

ARN Media Ltd., formerly Here, There & Everywhere and APN News & Media, is an Australian media company. Divisions include broadcast radio and out-of-home advertising. The company previously had assets in New Zealand, and previously owned Adshel, APN Outdoor and Gfinity eSports in Australia.[1] Its commercial radio stations include the Gold Network, KIIS Network, CADA, ARN Regional and iHeartRadio brands.

The company operates the ARN News service in Australia, which uses international correspondents and source news stories from AAP in Australia, CNN from the United States and Sky News and Independent Radio News from the United Kingdom. ARN has newsrooms in Sydney, Melbourne, Canberra, Brisbane and Adelaide.

Originally ARN was a joint venture of APN News & Media and Clear Channel (now iHeartMedia). On 19 February 2014, it was reported that APN News & Media had agreed to purchase Clear Channel's 50% stake in the ARN.[2] As a result, ARN is now fully owned by ARN Media. The company continues to operate the Australian version of iHeartRadio.[3]

Until 2014, ARN also included New Zealand radio networks Newstalk ZB, Classic Hits FM, ZM, Radio Sport, Radio Hauraki, Easy Mix, Flava and Coast under umbrella company The Radio Network. These are now part of New Zealand Media and Entertainment.

In August 2021, the company removed the words 'Australian Radio Network' from its name, now being known as simply ARN.[4] Three months later, in November 2021, Here, There & Everywhere, ARN's parent company, purchased Grant Broadcasters, who intend to integrate it with its own business by January 2022.[5][6][7] The deal was finalised on 4 January 2022.[8]

Having already acquired a 15% stake in Southern Cross Austereo (SCA) earlier in the year, in October 2023 ARN launched a takeover offer for SCA in partnership with Anchorage Capital Partners. To satisfy Australian Communications & Media Authority regulations that allow one party to only own two radio stations in one market, in capital cities ARN would add the Triple M network to the KIIS Network, while Anchorage Capital Partners would control the Hit and Pure Gold networks.[9][10]

In 2015, HT&E's two largest shareholders were the Australian fund manager Allan Gray Australia and News Corp Australia. Irish company Independent News & Media and Denis O'Brien's Baycliffe held an approximately 30% stake in the company before selling it in March 2015.

History

ARN Media had its origins in Provincial Newspapers (PN), a listed company that published regional newspapers in New South Wales and Queensland. The Herald & Weekly Times, which owned a significant proportion of PNQ, was taken over by News Limited in 1987. To comply with an order of the Trade Practices Commission, News Limited was required to sell its PN shares. The 48% stake in PN was acquired in 1988 by interests associated with the family of Tony O'Reilly, the principal shareholder of Independent Newspapers of Ireland.

The company was renamed Australian Provincial Newspapers Holdings and listed again on the Australian Securities Exchange in 1992 following a public share issue, and in 1998 the name was changed to APN News & Media.

In 2001, APN acquired 25% of Soprano Design, later going on to acquire stakes in Conversant Media and Unbnd Group. These acquisitions have been listed every year in their financial reports. Soprano Design was valued at over A$500 million in November 2019, giving APN over A$125m in equity.[11] Following Soprano's acquisition of SilverStreet Intl in December 2020, Analysts have stated that Soprano Design could be worth upward of $1 billion.

In June 2016, the company completed the demerger of its New Zealand radio and publishing business, New Zealand Media and Entertainment.[12] However, the company maintained a presence in New Zealand via its outdoor advertising business, Adshel NZ.[13] Also in 2016, the company announced it would sell its regional newspaper division, Australian Regional Media, to News Corp Australia for $36.6 million.[14] The deal was reviewed but not opposed by the Australian Competition & Consumer Commission.[15] The sale of ARM, encompassing APN's remaining newspaper assets, was completed in December 2016.[16]

APN News & Media Limited changed its name to HT&E Limited in May 2017, changing its ASX Listing Code to HT1.[17]

In June 2018, oOh!media purchased street furniture business Adshel for A$570 million from HT&E, in a competitive bidding war against rival (and former HT&E subsidiary) APN Outdoor.[18][19]

In January 2023, the company sold its 25% stake in communications firm Soprano.[20] In May 2023, Here, There & Everywhere was renamed ARN Media.[21][22] In June 2023, ARN acquired a 15% shareholding in major competitor Southern Cross Austereo. In October 2023, ARN launched a takeover offer for SCA in partnership with Anchorage Capital Partners. To satisfy Australian Communications & Media Authority regulations that allow one party to only own two radio stations in one market, in capital cities ARN would own the KIIS and Triple M networks, while Anchorage Capital Partners would control the Hit and Pure Gold networks.[23][24] The deal collapsed after Anchorage withdrew.[25]

Assets

ARN operates 58 radio stations, targeting the 25-to-54-year-old demographic. These stations include

• the top 40 (CHR) formatted KIIS Network
• the adult contemporary formatted Gold Network
• the rhythmic top 40 and urban contemporary-formatted CADA
• joint venture stations Mix 106.3 and Hit104.7 in Canberra with Southern Cross Austereo
• other radio stations via DAB+ digital radio and iHeartRadio
• 46 radio stations acquired from Grant Broadcasters

Outdoor/Advertising

• CODY Out-of-Home (Hong Kong)[28]
• Emotive (creative agency)[29]

Bibliography

External links

• Company website