Fairfax NZ valued at $122.2 mln in NZME merger deal

Fri, 09 Sep 2016

By Paul McBeth Sept. 9 (BusinessDesk) - Fairfax Media's New Zealand assets have been valued at $122.2 million in the proposed merger with local publishing rival NZME. The companies this week said Auckland-based NZME will pay Sydney-based Fairfax $55 million in cash and issue shares for Fairfax's New Zealand assets, giving the Australian group 41 percent of the merged entity if it can convince the antitrust regulator enough public benefits will be accrued from authorising a deal that would reduce competition. NZME today filed a directors'...

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