APN buys sports tipping site

Jimungo platform acquired from local owner

APN has acquired sports tipping website Jimungo, buying the platform from current owner Affinity ID.

In a statement on the NZX website today, APN notes: “Jimungo has around 300,000 registered users and runs tipping competitions across all major sports, including Rugby, Rugby League, Netball and Soccer.

“It’s a strong fit for nzherald.co.nz’s sports content and lends itself to high audience engagement through interaction and participation in sports events.”

News of the acquisition comes the same day APN announced an A$98.3 million loss for the half-year to June 30. The loss is partly due to a 20 percent write-down on the value of APN’s New Zealand metropolitan print assets, which contributed to an overall A$156 million impairment charge for the half-year.

Excluding the impairment charge, APN made an operating profit of $A21.8 million for the half-year.

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