New Zealand Nixes Merger of Top 2 Publishing Groups Citing Concentration of Media Power

Posted Wednesday, May 3, 2017 7:29 am

By Charlotte Greenfield and Jamie Freed | Reuters

WELLINGTON/SYDNEY, May 3 New Zealand's competition regulator blocked the planned merger of the nation's two largest publishing groups, saying the deal would have led to unprecedented local media influence and built the world's most concentrated newspaper market outside of China.

The decision will force NZME Ltd and Fairfax Media Ltd's New Zealand unit to find alternative strategies to deal with heavy competitive pressure and the loss of advertising dollars to digital rivals such as Alphabet Inc's Google and Facebook Inc.

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New Zealand Nixes Merger of Top 2 Publishing Groups Citing Concentration of Media Power

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