National news agency Australian Associated Press has edged closer to a rescue deal after it agreed to enter exclusive negotiations with a consortium led by former News Corp CEO Peter Tonagh.
"I am extremely pleased to announce that the AAP Newswire is expected to be sold to a consortium of impact investors and philanthropists," Mr Davidson said."Sadly, that means there will be job losses - without the revenue from News Corp or Nine, the new newswire will not support our current complement of journalists, photographers, producers and associated staff," he said.
"We wanted to protect the 85-year heritage of AAP and ensure independent journalism and media diversity was ongoing," Mr Tonagh told"We're delighted to have been able to protect the newswire and we will announce our plans once we have consulted with staff and stakeholders."
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