NZME drops Stuff bid as court gambit fails

Tue, 19 May 2020

New Zealand Herald publisher NZME has dropped its takeover bid for major rival Stuff after failing to get High Court backing to force Stuff's owner, Nine Entertainment, to continue negotiations on a deal that Nine had deemed were "futile."In a decision this morning, Justice Sarah Katz threw out NZME's application for an injunction requiring Sydney-based Nine to honour the terms of an exclusivity agreement that it accused Nine of "unilaterally" abandoning.See more details on NZX.comWithdrawing applicationIn a statemen...

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