APN News & Media, the Australian-based newspaper publisher, is considering selling its titles in New Zealand, including the country's largest paper, the New Zealand Herald.
APN's chief executive Brett Chenoweth said it has hired Deutsche Bank to advise on "various options to maximise profitability and value for shareholders".
He told the company's annual general meeting in Sydney that APN had received approaches "involving some or all of our New Zealand assets".
However, he also said APN was undertaking a major rejuvenation programme in its New Zealand division.
This involved a redesign of the Herald, including a switch from broadsheet to tabloid on weekdays. Other dailies would also adopt the tabloid format.
One investment banking and broking source said there was no market chatter on potential APN deals, but "you don't appoint investment bankers without having something there".
The troubled Irish publisher, Independent News & Media, has a 32.3% stake in APN.
Source: Business Day
