News Corp. unit News Corp. Ltd. completed its purchase of Australian Regional Media, the regional newspaper publishing arm of APN News and Media, APN said in a Dec. 28 filing to the Australian Securities Exchange.

Australian Regional Media, a publisher in regional Queensland and Northern New South Wales, owns 12 daily newspapers, 60 community newspapers and non-daily publications, and more than 30 regional news websites and mobile sites.

APN News will mainly use the proceeds from the sale, worth A$36.6 million, to pay off its existing debt.

As of Dec. 28, US$1 was equivalent to A$1.39.