Business
AAP flying into fresh financial turbulence – Sydney Morning Herald
One of the biggest customers of the embattled national newswire has raised concerns about its future as it tries to secure government funding.
ACM was one of the four shareholders that owned AAP until last August along with Nine Entertainment Co (owner of this masthead), News Corp and Seven West Media. Nine and News Corp (which contributed nearly $15 million a year to the newswire) decided early last year they would no longer subsidise the business and tried to shut down the operation.
It was later salvaged by a group of investors and philanthropists led by former Foxtel boss Peter Tonagh while Seven and ACM remained clients. Seven and…
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