Philanthropists save Australia's AAP newswire from closure

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SYDNEY: The Australian Associated Press has been acquired by a consortium led by philanthropists, saving the newswire from closure at the 11th hour.

The deal was confirmed late Monday (Jun 29), three months after staff were told AAP would shutter as challenges in the media sector were exacerbated by the economic fallout of the coronavirus pandemic.

The investor consortium, which includes former News Corp chief Peter Tonagh, told staff in an email they shared "a common goal - a desire to protect media diversity in Australia".

Read more: https://www.channelnewsasia.com/news/business/philanthropists-save-australia-aap-newswire-from-closure-12884462

Staff at Australian Associated Press' headquarters were told a drop-off in subscribers in the

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