Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Equity Funding Condition Fulfilled

For release Thursday 24 April 2003

Equity Funding Condition Fulfilled


Independent Newspapers Limited (“INL”) has been notified by John Fairfax Holdings Limited (“Fairfax”) that Fairfax has fulfilled the equity funding contractual condition in the Heads of Agreement for the acquisition of INL’s New Zealand publishing business.


Independent Newspapers Limited is New Zealand’s largest media company, publishing nine daily newspapers in New Zealand and one in Australia, plus New Zealand’s two Sunday newspapers and the news and information website www.stuff.co.nz. In addition INL publishes a range of other weeklies and national magazines, including TV Guide and NZ House & Garden, operates New Zealand’s largest magazine distribution business and publishes over 60 community newspaper titles in New Zealand and Australia. INL also holds a 66% interest in Sky Network Television Limited, New Zealand’s pre-eminent pay television service. INL had total assets as of 31December 2002 of approximately $NZ2.1B and total annual revenues of approximately $NZ454M for the six months ended 31 December 2002.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>