APN News & Media, which publishes the New Zealand Herald newspaper, has agreed to sell its stake in an outdoor advertising joint venture with Quadrant Private Equity for some A$69 million. The deal will see APN sell its 48 percent of APN Outdoor at a multiple of 7.5 times earnings, before interest, tax, depreciation and amortisation, the media group said …

Telecom Corp has confirmed it’s considering hocking off its AAPT unit in Australia as it transforms into a service-based telecommunications operator, though hasn’t commented on reports it may sell its stake in mobile business Hutchison Telecommunications Australia. The Auckland-based company is considering a possible sale of AAPT, though hasn’t made any final decision, it said in a statement. The announcement …

New Zealand’s government is looking for ways to save money on building materials as its annual spend is predicted to more than double for the next five to eight years, driven by the Canterbury rebuild and leaky building remediation. Government agencies are forecast to increase their annual spending on building supplies to $3.3 billion from a previous base of $1.5 …