TV3 owner to be put into receivership today

Sun, 16 Jun 2013

By Paul McBeth June 17 (BusinessDesk) - MediaWorks New Zealand, the broadcaster whose stable includes TV3 and Four, and radio stations including Radio Live, the Rock and MoreFM, is expected to be put into receivership today after a planned recapitalisation failed to win over its lenders. It is understood KordaMentha will run the receivership as part of a restructuring plan to switch assets into a new entity, write down the company’s debt, and allow the broadcaster to continue operating. The Auckland-based broadcaster has been looking at w...

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