SYDNEY (Reuters) - Australian Associated Press (AAP) said on Friday it expects to be sold to a group of philanthropic investors, a reprieve for the news agency that had been facing closure, and for the industry, after a run of layoffs as advertising dwindles.
AAP had planned to close this month after 85 years but said it now expected to stay in business, albeit with fewer staff, after it and a group of investors agreed on a sale for an undisclosed sum.
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