Australian Associated Press to close after 85 years

Image source: AAP Facebook.

The news comes after major shareholders Nine Entertainment and News Corp Australia said the 85-year-old institution was unsustainable, resulting in about 500 job losses.

Campbell Reid, AAP’s chairman and News Corp’s group executive for corporate affairs told staff at a meeting in the Sydney newsroom: “It is a great loss that professional and researched information provided by AAP is being substituted with the unresearched and often inaccurate information that masquerades as real news on the digital platforms.”

For more:

• AAP to close after wire service tells staff it is no longer viable - The Guardian
  
• AAP newswire service closes after 85 years with 500 job losses, blames free online content - ABC News
  
• 'Tragedy': AAP newswire to close in June, jobs to go - Sydney Morning Herald