Fairfax slashes value of NZ business as Nine merger looms

Wed, 15 Aug 2018

By Paul McBeth Aug. 15 (BusinessDesk) - Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. Sydney-based Fairfax is pursuing a A$2.2 billion deal with Nine Entertainment Co where the television company will effectively take over the publisher in Australia's biggest media consolidation since rules were changed allowing the ownership of print, television and radio assets. That deal didn't place much emphasis on the opportunities...

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