Browsing: Intermedia Group
An email leaked to StopPress late Friday afternoon revealed that McDonald Vague, the receivers assigned to Mediaweb last month, found several anomalies when analysing the financial records of the struggling company. The message, written by McDonald Vague director Jared Booth, was initially intended only to be read by those involved in the tender process, and comes shortly after Mediaweb went into liquidation on 21 March.
The Intermedia Group, which owns over 70 media titles in Australia, has announced that it will release two business-to-business titles in the New Zealand market within the next few months. This move comes only a few weeks after it was confirmed that MediaWeb, which was previously active in both the FMCG and hospitality markets, went into receivership. And although the Intermedia NZ general manager didn’t say that there was a correlation between the MediaWeb receivership and Intermedia’s decision to enter the market, he did admit that situation at MediaWeb influenced the timing of the move. Update: the receivers are accepting tenders from interested parties for all MediaWeb’s assets.