MediaWorks owners hire Goldman ahead of crunch debt talks

(Image: NZME)

Thu, 09 Nov 2023

The owners of MediaWorks have hired Goldman Sachs ahead of crunch debt talks that could result in lenders forcing a sale of the business.Oaktree Capital Management and Quadrant Private Equity have enlisted the investment bank as discussions continue over the future ownership and debt structure of the ailing company.Sources told BusinessDesk that the private equity firms face calls to inject more than $50 million into the radio and outdoor advertising group or risk lenders taking control and forcing a sale to recoup their money.Creditors are sai...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Law & Regulation

James Wallace is 'low risk, but not no risk' of reoffending

Why James Wallace remains under strict release conditions.

Garth Bray 1:00pm

Policy

NZ's space sector revenue grows over 50% in five years

Advanced aviation is also a growing sector, according to a new industry survey.

Greg Hurrell 12:45pm

NZ's space sector revenue grows over 50% in five years

World

UK makes deal with US

Both countries hailing this as a good outcome show how much the landscape has shifted.

The Wall Street Journal 12:00pm

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Media

Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on.

Staff reporters 2:12pm

Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 11:58am