Scoop has an Ethical Paywall
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.
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NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
