Confidence from NZME that plans to merge with Fairfax NZ are on track to succeed. The media giant says nothing in submissions to the Commerce Commission undermine the key arguments for the merger.
The regulator will now consider all submissions received so far with a decision due August 22 but on NZHerald.co.nz business reporter, Jamie Gray writes this may be extended at the discretion of the commission.
In a statement to the NZX, NZME said: “NZME has seen nothing in the submissions filed by interested parties that undermine the key arguments made in its original application.”
The Commerce Commission has received 49 submissions on the NZME/Fairfax merger plans. Not many given the high-profile transaction. All were from competitors, journalists, or academics and public policy lobby groups.
Many of the objections are understood to be on the grounds of the merger creating an even bigger media monopoly.
NZME owns the New Zealand Herald and nzherald.co.nz as well as radio stations and the e-commerce site GrabOne. Fairfax’s New Zealand operation publishes newspapers, including the Dominion Post and magazines and websites, including the Stuff news website.
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