APN News & Media is continuing with its expansionist policy, holding talks with Quadrant Private Equity in relation to an outdoor partnership that could be worth $300 million.
In a statement to the ASX, APN said it has entered into a “period of exclusivity with Quadrant Private Equity in relation to a partnership opportunity across its wholly owned Outdoor businesses”.
While the two companies are yet to reach an agreement, media reports have speculated the deal could be worth as much as $300 million.
The discussions follow a a strategic review which was undertaken by APN late last year. Chief executive Brett Chenoweth and his team have explored how to expand APN's outdoor operations.
APN has also recently revealed a 5.3% stake in outdoor operator Ooh!Media. Ooh!Media is in the midst of a $163 million takeover bid by Champ Private Equity.
Industry pundits have suggested APN may have revealed its stake in Ooh!Media so it can have a seat at the table if Champ is successful in its takeover. One industry expert said APN might enter a joint venture with Champ if the deal goes through.
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