The move is designed to protect diversity in the Australian media (AP)Australia’s national news agency has been sold in a binding agreement to a consortium of philanthropist investors who say they are driven by a desire to retain media diversity. The consortium is led by Nick Harrington and is made up of a number of investors including philanthropist John McKinnon. It has been supported by former News Corp Australia chief executive Peter Tonagh. Other parts of the AAP business remain the property of existing shareholders. Outgoing AAP chairman Campbell Reid, a News Corp Australia executive, paid tribute to the professionalism of AAP’s more than 170 staff over recent months.

Source: Irish Independent June 30, 2020 07:41 UTC