CANBERRA, Australia — National news agency Australian Associated Press said Tuesday it was closing after 85 years, blaming a decline in subscribers and digital platforms distributing news content for free. The AP licenses its news text and photo services to AAP for redistribution into the Australian media market and its customers. AP is also contracted to use AAP text and photos. AAP is owned by Australian news organizations News Corp. Australia, Nine Entertainment Co., Seven West Media, and Australian Community Media. Australian media organizations are under mounting financial pressure with global digital giants Google and Facebook taking a growing chunk of advertising revenue.

Source: Philippine Daily Inquirer March 03, 2020 05:48 UTC