MediaWorks takes $22.1M provision for settlement disputed tax case

Tue, 14 Aug 2012

By Paul McBeth Aug. 15 (BusinessDesk) - MediaWorks NZ, the broadcaster whose stable includes TV3 and Four, and radio stations including the Rock and MoreFM, has taken a $22.1 million provision for settlement of its disputed tax case with the Inland Revenue Department over deductions claimed on convertible notes. The broadcaster, which posted an annual loss $305.6 million in the 12 months ended Aug. 31 last year, recognised the provision for a potential settlement based on "legal judgements issued to other non-related taxpayers," holding comp...

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