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APN News & Media is set to take full control of its radio businesses from Americas Clear Channel and launch a capital raising of between $100 million and $150 million to fund the deal.

It could mark a transformational deal for the trans-Tasman media group under former News Corp executive Michael Miller, who has moved to tidy up the companys complex asset base and pay down debt since he took over as CEO in June.

Mr Millers predecessor, Brett Chenoweth, was ousted by major shareholders after they rejected his push for a $150 million capital raising.

The Australian Radio Network owns the KIIS station in Sydney with Sydney breakfast duo Kyle and Jackie O as well as the Classic Hits network.

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The deal, which also includes New Zealands The Radio Network, values APNs radio assets at around seven times earnings before interest, tax, depreciation and amortisation.

The deal is understood to have the backing of major shareholders, which include Independent News & Media, controlled by Irish billionaires Tony OReilly and Denis OBrien, which has a 29 per cent stake, and Allan Gray, which has 19.8 per cent.

Allan Gray chief executive Simon Marais told The Australian Financial Review in October that he would back APN to buy out the 50 per cent of the business it does not own for seven times EBITDA.

Clear Channel will offset declines elsewhere

The move to acquire Clear Channels shareholding will give APN 100 per cent ownership of a fast-growing national metropolitan radio asset, helping to offset the declines at its newspaper publishing arm, which has been hit by structural declines in print circulation and advertising revenues.

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APN takes full control of radio business from Clear Channel, starts capital raising

Government troops have regained full control of a village in central Syria after ousting rebels accused of killing dozens of people there, state media said Tuesday as activists reported an explosion in a southern town killed at least 18 people.

The SANA state news agency said government troops seized control of the village of Maan in Hama province on Monday after destroying the last "hideouts of terrorists, who came into the village and committed a massacre." The government refers to rebels fighting to overthrow President Bashar Assad as terrorists.

Syria's nearly three-year-old conflict has grown increasingly sectarian, pitting a rebellion dominated by the country's Sunni Muslim majority against Assad's government and its security forces, which are stacked with members of the leader's Alawite sect, an offshoot of Shiite Islam.

Opposition activists have also reported sectarian killings in Maan earlier this month. The Britain-based Syrian Observatory for Human Rights said at least 40 people, most of them Alawites, were killed when hard-line, anti-Assad Islamic fighters overran the village Feb.9.

In southern Syria, a blast in the town of Muzayrib in Daraa province killed at least 18 people, including four children, the Britain-based Syria Observatory for Human Rights activist group said. Observatory director Rami Abdurrahman said it was unclear whether the explosion was a car bomb or an airstrike.

In the neighboring province of Quneitra, the army was reinforcing its positions in an effort to dislodge rebels from the area near the Israeli-occupied Golan Heights.

Abdurrahman reported heavy fighting in the hilly area just south of Quneitra city, the provincial capital. He said the army is bringing more tanks, heavy artillery and troops to the region that has been under control of hard-line Islamic rebel groups for months.

The government's apparent showdown with the rebels in the south comes a day after Syrian opposition named a news military chief. Brig. Gen. Abdul-Ilah al-Bashir hails from southern Syria and was an army commander in Quneitra until 2012 when defected to the opposition.

The Observatory also reported heavy government shelling of Yabroud, the last rebel-held town near Syria's border with Lebanon. Yabroud is located in the mountainous Qalamoun region. Government troops, backed by Lebanese Hezbollah fighters have been on a crushing offensive there since early December, trying to sever a main thoroughfare for rebels from Lebanon.

At U.N. headquarters in New York, Security Council ambassadors met behind closed doors into the early evening Tuesday to discuss how and whether rival resolutions on the worsening humanitarian crisis can be melded into a single text that could win approval by the council, which has been deeply divided over Syria.

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