Fairfax Media and NZME merger update

Company News

by Jessica Amir

Fairfax Media Limited (ASX:FXJ) and New Zealand media and entertainment company, NZME Limited (ASX:NZM) have agreed with the New Zealand Commerce Commission to extend their proposed merger date.

The two media companies agreed to extend the 15 March 2017 target date, for the New Zealand Commerce Commission (NZCC)’s decision on the proposed merger, which is due 11 April 2017.

Since the draft merger was issued to the New Zealand Commerce Commission (NZCC) in November 2016, both companies provided a significant amount of information to the commission.

Both companies say the further information given to the commission will support their merger application.

Fairfax Media Limited (ASX:FXJ) reported a $84.7 million net profit after tax for the 2017 half-year.

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