Fairfax applies for clearance
Fairfax applies for clearance to acquire the publishing business of Times Media
The Commerce Commission has received an application from Fairfax New Zealand Limited (Fairfax), seeking clearance to acquire Times Media Group Limited (Times Media) mastheads the Rodney Times, the Coaster and the Outlook, and associated assets, including the stationary shop owned and operated by Times Media.
Fairfax is a wholly owned subsidiary of Australian company John Fairfax Holdings Limited, which publishes the major metropolitan newspapers in Sydney and Melbourne, along with Australia’s Financial Review.
In New Zealand, Fairfax’s operations include nine daily newspapers, including The Dominion Post and The Press, two national Sunday papers, magazines, a magazine publishing business, an internet operation, and over 60 community newspapers throughout the country.
Times Media has both a media (Times Media Division) and print division (Times Colour Print). The print division, Times Colour Print, is a privately owned printing company based in Warkworth, which prints newspapers, magazines and brochures. Times Colour Print is not part of this acquisition.
In considering the application, the Commission’s role is to determine whether the acquisition has the effect of substantially lessening competition in a market.
A public version of the application will shortly be available on the Commission’s website www.comcom.govt.nz under Public Registers.