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APN News & Media profits rise 20%

Record $28 mil increase helps revs reach $334 mil

SYDNEY — Irish media baron Tony O’Reilly’s Australian offshoot APN News & Media on Tuesday unveiled a 20% increase in post-tax profit to a record A$45.4 million ($28 million) on revenues of $334 million (up 35%) for the year ended Dec. 31.

APN’s Antipodean interests include Australia and New Zealand’s largest radio network, which it operates in partnership with America’s Clear Channel Communications and World Movies, one of Oz’s most successful feevee channels that it operates in partnership with Kerry Stokes and pubcaster SBS.

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