Australian Newswire AAP to Close in Latest Hit to Media Industry

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(Bloomberg) -- Australian Associated Press, the newswire that’s been an enduring and crucial part of the nation’s media landscape for more than 80 years, is closing.

The company, owned by News Corp., Nine Entertainment Co. and other media outlets, said subscriptions had dwindled amid increased competition from digital platforms.

AAP’s newswire, renowned for its fast, accurate and comprehensive coverage of national affairs, will shutter in June, while its Pagemasters editorial production service will close in August. Its press release distribution business Medianet will be offered for sale, according to a statement Tuesday.

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