Media company APN News & Media has agreed to sell its Australian regional operations to Rupert Murdoch's News Corp for $36.6 million.
The sale of Australian Regional Media - which consists of 12 daily newspapers, 60 community newspapers and non-daily publications, plus more than 30 regional news websites and mobile sites - will need approval by the ACCC and FIRB.
APN said on Tuesday that the proceeds from the sale will predominantly be used to pay down its existing debt.
