
News Corp pulls out of NZME
News Corp has quietly sold its 14.9 per cent stake in NZME less than four months after receiving shares in the newly independent company.
News Corp has quietly sold its 14.9 per cent stake in NZME less than four months after receiving shares in the newly independent company.
The first formal step towards the merger of NZME and Fairfax Media’s New Zealand assets was taken today with close to an unanimous vote from shareholders in support of a demerger of NZME from APN News & Media.
APN News & Media-owned NZME and Fairfax NZ have placed their case for a merger before The New Zealand Commerce Commission, seeking an authorisation to proceed from the regulatory body.
New Zealand Media and Entertainment’s planned newsroom integration will take place in December, with journalists moving to a new purpose-built multi-platform newsroom in Auckland.
New Zealand Media & Entertainment launched a multi-platform lifestyle and entertainment product this week to fill a void created by New Idea, which no longer will produce New Zealand content.