NZME gives up on plans to merge with Stuff

  • Media
  • October 24, 2018
  • Radio New Zealand
NZME gives up on plans to merge with Stuff

Media company NZME has called it quits on its attempts to merge with rival Stuff to form a mega-media company.

The company said it would not appeal last month's Court of Appeal decision backing the High Court and Commerce Commission rejections of the merger.

The plans for a mega-media company were turned down because of concerns about lack of competition and loss of diversity in media outlets.

"This brings the merger process to a conclusion," NZME said in a brief statement.

NZME's decision ends a two year quest to bring together most of the country's daily, weekend, and community papers under one structure.

The merger would have created a major commercial radio network and two leading news websites.

Both NZME and Stuff have been pressing on with digital initiatives.

Stuff is getting into streaming, broadband, and health insurance, while NZME has new advertising sites for cars and property and the company plans a paywall for premium content.

The appeal decision will renew speculation about Stuff's future.

Its Australian parent, Fairfax, is trying to merge with the Nine media group and there have been indications the New Zealand assets might not be wanted in the enlarged group.

Last year, there was speculation that private investment funds were valuing Stuff at more than $100m.

More recently, a possible link between Stuff and MediaWorks has been touted.

This story originally appeared on Radio New Zealand

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.

Is consolidation the way of the future?

  • Advertising
  • January 18, 2019
  • Caitlin Salter
Is consolidation the way of the future?

The tail end of 2018 brought with it some major announcements between media companies and the booming out-of-home market. Nearly two months since NZME and Go Media enacted their partnership and MediaWorks and QMS Media announced their proposed merger, we have a chat with media agencies to see whether the latest developments are a sign of things to come.

Read more
Next page
Results for
Topics
Jobs
About

StopPress provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2019 ICG Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

Advertise

Contact Vernene Medcalf at +64 21 628 200 to advertise in StopPress.

View Media Kit