NZME will not appeal proposed merger with Fairfax

Company News

by Anna Napoli

NZME (ASX:NZM) will not appeal the Court of Appeal's decision in relation to the proposed merger of NZME and Fairfax's New Zealand subsidiary Stuff Limited.

The proposed merger was rejected by the NZ Court of Appeal last month after failing to get the tick of approval from the New Zealand Commerce Commission in May last year ,and, the High Court in December.

NZME says it continues to focus on its strategic and operational priorities to enhance shareholder value.

Looking forward the company will focus on growing audience engagement, returning advertising revenue to growth and maximizing the efficiency of operations.

Shares in NZME (ASX:NZM) last traded at 58 cents.

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