APN Outdoor

Last updated

APN Outdoor
Founded2004;22 years ago (2004)
Defunct2018 (2018)
Headquarters
Sydney
,
Australia
Products Outdoor advertising
Parent JCDecaux
Website www.apnoutdoor.com.au

APN Outdoor was an Australian outdoor advertising company based in Sydney, Australia.

Contents

History

Former APN Outdoor logo APN Outdoor previous logo.png
Former APN Outdoor logo

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]

References

  1. ↑ "APN Outdoor - Business Directory". Brand South Australia. Retrieved 26 May 2018.
  2. 1 2 "APN Outdoor Group IPO Prospectus" (PDF). ASX. Retrieved 26 May 2018.
  3. ↑ "APN set to sell outdoor business to Quadrant". AdNews. 22 October 2013. Retrieved 20 May 2018.
  4. ↑ Ward, Miranda (4 May 2017). "APN News & Media rebrands as HT&E" . Retrieved 26 May 2018.
  5. ↑ Kaye, Bryan (21 October 2014). "Australia's APN Outdoor to raise $289 mln in IPO - source". Reuters. Retrieved 26 May 2018.
  6. ↑ Hayes, Alex (11 November 2014). "APN Outdoor close down on first day of trading". Mumbrella . Retrieved 20 May 2018.
  7. ↑ Doctor, Daisy (2 August 2017). "APN Outdoor CEO Richard Herring exits after 22 years". Ad News. Retrieved 26 May 2018.
  8. ↑ "Warburton continues APN shake-up" . The Australian. News Corp Australia. 23 April 2018. Retrieved 26 May 2018.
  9. ↑ Doctor, Daisy (19 May 2017). "APN and Ooh! scrap merger, slam ACCC intervention". Ad News. Retrieved 26 May 2018.
  10. ↑ "APN shares leap after JCDecaux offer". Nine Finance. 21 June 2018. Retrieved 22 June 2018.
  11. ↑ Wallbank, Paul (15 October 2018). "APN Outdoor shareholders approve JC Decaux deal". Mumbrella.
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