NZME shares slump to new low as regulator takes dime view on Fairfax deal

Tue, 08 Nov 2016

By Paul McBeth Nov. 8 (BusinessDesk) - NZME shares sink 24 percent after the Commerce Commission's early view that a merger with Fairfax New Zealand would concentrate too much power under one umbrella, irrespective of the financial gains. Traditional media companies have struggled to come to grips with shrinking newspaper audiences as they gave away their product for free online, where the likes of Google and Facebook have asserted dominance in digital advertising, while losing classified ad income streams to internet-based rivals such a...

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