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APN News & Media today announced it has finalised the first of two strategic investments with digital incubator Pollenizer that will create innovative businesses adjacent to APN’s core media assets. This is the latest step in APN’s strategy to expand its digital portfolio.

APN has taken a 25% stake in Friendorse Pty Ltd, an early stage online business co-founded by Pollenzier that targets local community recommendations for businesses and services within a neighbourhood. APN will work with Friendorse to integrate the offering with its publications in its Australian Regional Media business.

APN Chief Development Officer, Matt Crockett said: “Part of APN’s strategy for our regional publishing businesses is to provide more services and useful local information relating directly to those communities. The Friendorse model based around recommendations is a good fit with that strategy.”

The investment follows a successful trial of Friendorse in three key markets for Australian Regional Media.

Phil Morle, Co-Founder, Pollenizer said “APN was able to execute on a live trial within two weeks of discussion. Their entrepreneurial approach combined with a strong position in local markets provides the perfect platform to facilitate the growth of Friendorse.”

For the second investment, APN and Pollenizer plan to jointly fund a vehicle in early 2012 to identify new digital business models adjacent to APN’s core businesses in Outdoor, Publishing and Radio.

Matt Crockett said: “Pollenizer has developed one of the most successful and lean rapid development processes in Australia. The partnership is an excellent opportunity as we look to accelerate innovation.”

Phil Morle said: “It can be challenging for early stage businesses to work with large, established media groups, however APN is establishing a track record of working effectively with entrepreneurs. Pollenizer sees that as a strong basis for entering into our first innovation partnership with a large corporation.”

-ENDS-

For Further Information: Helen McCombie, Citadel Communications, 0411 756 248