NZME had acquisition talks with Stuff

NZME has confirmed that it has held discussions with Stuff regarding the potential acquisition of digital and print assets within the Stuff mastheads business.

The company said the strategic rationale for the transaction was to accelerate OneRoof's revenue and audience, particularly in Wellington and the South Island.

It also aimed to grow NZME's total audience, customer base and profitability.

However, on March 6, Stuff informed NZME that it was pausing the discussions until the composition of the NZME board is known, following the outcome of NZME's annual shareholders' meeting.

NZME said there is no certainty that it will re-engage in any discussions with Stuff or that any potential transaction will occur.