Australian Associated Press Sold to Consortium of Investors and Philanthropists at 11th Hour

Newswire Australian Associated Press (AAP) has been sold in an 11th-hour bid by a philanthropic investment consortium helmed by former News Corp chief executive Peter Tonagh.

The deal was signed one day before the end of the subscription of majority shareholders News Corp and Nine and four days after the wire was expected to close, leaving 180 journalists, photographers and other staff out of a job.

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