Speculation is running hot in New Zealand about Clear Channel selling its share in The Radio Network (TRN) and parent company the Australian Radio Network (ARN) as part of a consolidation strategy. The US radio giant has been selling down its US stations since last year to concentrate on its top 100 earning businesses and expand into digital HD radio and data delivery.

Clear Channel’s US based International Division spokesperson Bob Cohen would not be drawn on the company’s continuing intentions for TRN or ARN, telling radioinfo: “It is our policy not to comment on speculation.”

New Zealand Herald media columnist Fran O’Sullivan writes this week that: “APN News and Media is in talks with Clear Channel, its American joint venture partner in the Australasian radio business, over the dissolution of their commercial marriage .”

She says APN’s senior radio staff on both sides of the Tasman “were briefed before Christmas on the implications of any ownership change.”

The New Zealand Herald is owned by APN.

Speculation on buyers for Clear Channel’s stake is mostly centered around Tony O’Reilly’s Independent News and Media group, which tried unsuccessfully to bid for full control of APN late last year and is still believed to be actively looking for private equity to mount another bid.

With the impending opening up of foreign and cross media ownership legislation in Australia, other possible suitors for all or part of ARN and/or TRN include Austereo, French media company Lagardère Active Radio International (LARI), Virgin Radio and many others.

APN’s Australian management team also declined to comment on the current speculation.