Advertising agency canaan says it has decided to close its advertising operations on the mainland, a move that has prompted concerns from some local media outlets.
Canaan said on Thursday it would shutter its local advertising business in Sydney and Victoria, but it did not say how it planned to sell the assets.
The advertising agency is one of the country’s largest, with nearly 400 staff, including advertising salespeople, digital specialists, marketing and social media managers, and accountants.
Canaman has said it is looking at all options, including selling the business.
The Australian Press Media Council (APMC) said in a statement that the decision to close the company’s operations was a result of “continuing challenges and challenges in the market”.APMC said it would consider all options for the future of Canaan’s advertising business, including the possibility of merging with another company, or exiting the business altogether.
Canão is the countrys largest independent advertising agency.
Its assets include a large portfolio of digital and print advertising, which it said were among its most successful areas.
However, the agency has faced criticism in recent months over the past year over its handling of the Sydney siege and other events, including a campaign that accused the ABC of bias in favour of Mr Abbott.
Mr Canavan said in August he would not run for re-election.
He said the agency would now focus on its core businesses, which include promoting a healthy lifestyle and providing a wide range of services.
The agency has a portfolio of over 1,400 digital and physical ads, including more than 4,000 on the ABC, and over 1.2 million on its mobile app.APMC has said that while it had made progress in tackling issues of discrimination and racism in the advertising industry, it still had significant work to do in the areas of inclusion and inclusion of all people.