The restructuring will create one of the leading media companies in Australasia, with a market capitalisation of around A$1.5 billion (€850 million).
The move is seen as a precursor to APN merging with John Fairfax Holdings, a leading publishing group in Australia. Analysts at ABN Amro say that a bid by a larger APN, rather than by INM, side-steps a number of foreign ownership laws.
