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APN buys NZ sports tipping site

NZPA

Thursday 18th August 2011

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APN News & Media has bought New Zealand sports tipping site Jimungo, saying it lent itself to high audience engagement through interaction and participation in sports events.

Jimungo, bought from Affinity ID, had around 300,000 registered users and ran tipping competitions across all major sports. It was a strong fit for nzherald.co.nz's sports content, APN said today.

The company also announced it had agreed to buy a controlling stake in Australian online catalogue digital distribution business CC Media.

That deal provided it with a national position in the online advertising market, APN said.

APN chief executive Brett Chenoweth said the deals were a clear pointer to APN's strategy in terms of connecting its existing media assets with high growth digital businesses.

APN expected the investments to grow into an increasingly important contribution to its earnings in the next two to three years.



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