MediaWorks to sell Three to Discovery for undisclosed sum

Mon, 07 Sep 2020

MediaWorks has agreed to sell its unprofitable free-to-air television division to the Discovery Channel for an undisclosed sum.The deal is subject to a number of approvals and is expected to be completed by the end of the year. MediaWorks has been trying to sell the TV business for the past year after struggling to get the free-to-air Three network to turn a profit.Discovery had been mooted as a potential buyer, and the acquisition will expand its New Zealand reach to six pay-TV channels and eight free-to-air channels, plus the Newshub new...

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