WHAT INDEPENDENT IS BIDDING FOR

. The New Zealand Herald, the biggest circulation newspaper (250,000 copies approx) in the country with a virtual monopoly in…

. The New Zealand Herald, the biggest circulation newspaper (250,000 copies approx) in the country with a virtual monopoly in the Auckland and northern North Island regions

. Largest commercial printing operation in New Zealand - magazines, catalogues, plastic cards, chequebooks

. Publisher of weekly magazines, monthly publications and business directories

. Publisher of nine provincial newspapers in the North Island and over 30 community newspapers in Auckland, Hamilton, Wellington and Christchurch

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. Major educational publisher, with 3,200 titles in book and CD ROM form

. One-third stake in Radio New Zealand (APN also has a one third stake)

. Sales in year to March 1995, of NZ$400 million (£174 million) and pretax profits of NZ68.4 million

. Sales in nine months to December, 1995, of NZ$326 million and pretax profits of NZ$53.7 million

. Shareholders equity of NZ$881.5 million, mastheads and titles valued at NZ$794.2 million, net debt at December, 1995, of NZ$249.8 million