Newly-listed NZME, publisher of the New Zealand Herald, said it has completed its demerger from Australia's APN News & Media.

The demerger marks the creation of a standalone company, allowing NZME to focus on operating its New Zealand publishing, radio and digital brands.

NZME shares have been distributed today to eligible APN shareholders at a ratio of one NZME share for every one APN share.

In a separate statement, APN announced the resignation of Sir John Anderson from the company's board, effective from tomorrow.

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With the demerger of NZME from APN now complete, Anderson has been appointed independent chairman of NZME.

Anderson has served as an independent non-executive director of APN since his appointment to the Board in March 2015, and has also served as a member of APN's audit and risk committee since May 2015.

NZME's shares, which debuted on the NZX on Monday at 85c, last traded at 77c.