MediaWorks’ lenders a step closer to taking control of ailing broadcaster

Wed, 14 Aug 2013

By Paul McBeth Aug. 15 (BusinessDesk) - The lending syndicate to broadcaster MediaWorks NZ is a step closer to taking control, two months after tipping the company into receivership. Receivers Brendon Gibson and Michael Stiassny of KordaMentha have signed a conditional sale and purchase agreement with a new holding company for the broadcaster, they said in a statement. The new structure will see US private equity firm Oaktree Capital emerge as the biggest shareholder with 26.7 percent. Lender RBS will hold 21.9 percent, private equity firm T...

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