ARN Media sells Hong Kong asset for $5.6M

• ARN Media has agreed to sell its Hong Kong out-of-home advertising business to DFI Retail Group for HK$30.2 million.
• The announcement drove ARN Media shares up 4.1% in immediate market trading.
• The transaction completes a strategic exit from international advertising as the company focuses on its core Australian entertainment portfolio.

ARN Media (ASX:A1N) executed an agreement to sell its Hong Kong out-of-home advertising business, Cody Hong Kong, to DFI Retail Group for HK$20.2 million.

The divestment satisfies a strategic objective established in 2025 when the company flagged its intention to exit the Hong Kong advertising market.

“The sale of Cody HK is an important step in simplifying ARN's portfolio of assets,” said ARN Media CEO Michael Stephenson.

The transaction structure requires 75% of the purchase price to be paid up front, with the remaining 25% deferred for 12 months following completion in the second half of 2026.

Following the announcement, the ARN Media share price was up at $0.26.

The company stated that the transaction is expected to support its strategy to become a leading digitally driven entertainment business in Australia.

The media group plans to allocate the net proceeds towards reducing net debt while releasing $30.5 million in existing bank guarantees.