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Australian national news agency sold in binding agreement

CANBERRA, Australia (AP) — Australia’s national news agency has been sold in a binding agreement to a consortium of philanthropist investors who say they are driven by a desire to retain media diversity. The consortium told Australian Associated Press staff in an email that they signed a binding agreement to buy most of the business on Monday. The business will continue to be owned and run by its existing shareholders, including News Corp. Australia and Nine Entertainment Co., until a settlement period ends on July 31, according to the email seen by The Associated Press on Tuesday. 

Associated Press

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