UPDATE New ownership for Mediaworks well advanced

Sun, 16 Jun 2013

By Paul McBeth June 17 (BusinessDesk) - MediaWorks NZ, the broadcaster whose stable includes TV3 and Four, and radio stations including Radio Live, the Rock and MoreFM, is “well advanced” with plans for new ownership after being placed in receivership this morning. KordaMentha’s Brendon Gibson and Michael Stiassny have been appointed to oversee the restructuring plan which had the support of lenders to pay suppliers before the receivership was announced, they said in a statement. “We are in a fortunate position whereby MediaWorks’ funders h...

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