Fairfax appeals NZCC’s decision to merge

Company News

by Roma Christian

Fairfax Media Limited (ASX:FXJ), Fairfax New Zealand Limited and NZME Limited (ASX:NZM) will file an appeal against the New Zealand Commerce Commission’s (NZCC) decision to deny the proposed merger of the companies.

The parties will file the appeal in the High Court after the NZ (NZCC) body denied the merger on 3 May 2017.

The media companies say the NZCC’s ruling to decline the clearance and authorisation of the merger is wrong in fact and wrong in law.

Shares in Fairfax Media Limited (ASX:FXJ) last traded 0.4 per cent higher to $1.25.