The Australian Associated Press (AAP) has announced the
shuttering of the AAP Newswire and the Pagemasters editorial production
service.
The decision
was prompted by the decline in the number of media companies subscribing to the
news wire service in recent years, the service said.
“The
unprecedented impact of the digital platforms that take other people's content
and distribute it for free has led to too many companies choosing to no longer
use AAP's professional service. We have reached the point where it is no longer
viable to continue,” said a release on the closing.
AAP is owned
by Nine, News Corp, The West Australian and Australian Community Media.
The Newswire
will close at the end of June and Pagemasters at the end of August.
AAP's press
release distribution business Medianet and its media intelligence business
Mediaverse will be put on sale.
There will
be job losses but job opportunities are also expected as AAP's shareholders and
other companies determine how they’ll get and process news. News Corp and Nine
will be making investments in their own teams to replace some of the material
they get from AAP, the release said.
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