Law firm Addisons has advised Australian Associated Press (AAP) on the sale of its newswire business to a consortium of investors and philanthropists.
The new-look newswire will continue to provide reporting on breaking and world news, sport, courts and politics, together with images and a fact-checking service, under the leadership of chief executive Emma Cowdroy.
Addisons partner Dale Chapman commented:
“It was initially reported during March 2020 that AAP, a business that has been operating for more than 85 years, would be closed down by July 2020. As a result of this transaction, that outcome has been averted and the future of the AAP Newswire – and its continued contribution to media diversity and independent Australian journalism – is assured. We are proud to have been part of this pivotal transaction, and wish the AAP team all the best for the next chapter in AAP’s story.”Dale Chapman, Partner, Addisons