News Corp’s acquisition of APN’s regional newspaper division Australian Regional Media (ARM) is set to see 300 jobs lost as offices are consolidated, however no shutdowns have been announced.
Reports find News Corp’s plans to cut costs following its ARM purchase will focus exclusively on office, printing and distribution synergy.
ARM currently employs a workforce of some 1200, which is expected to shrink by a quarter following News Corp’s acquisition.
[Related: News Corp snags deal to buy APN newspapers]
At this stage the media conglomerate has no plans to shut down any of ARM’s 12 daily and 60 community newspapers, which are still profitable mastheads. This is in direct comparison to rival Fairfax’s ruthless attitude towards printed news, with an unlikely future for its metro weekday mastheads.
The deal itself still remains at the jurisdiction of the Australian Competition and Consumer Commission (ACCC), which has been probing the acquisition for some time following protestations of media monopoly.
APN shareholders will officially vote on the $36.6m sale this Friday, and ARM’s newspaper empire will then be in the hands of Murdoch’s company – pending approval from the ACCC.
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