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

 


Sublime Group Ltd to acquire Newsroom from NZX

Media Release – Friday 24 January

Sublime Group Ltd to acquire Newsroom from NZX

Sublime Group Ltd is increasing its presence in the media business by seeking to acquire NewsRoom from NZX, says Craig Pellett, CEO of Sublime Group (www.sublimegroup.net). The NewsRoom acquisition is expected to be formally completed shortly.

“Our acquisition of NewsRoom is designed to support our recent investment in and restructuring plans for Scoop Holdings Ltd, which owns Scoop.co.nz,” says Craig Pellett.

“The acquisition is a clear indication that we are committed to being a serious player in the online media sector in New Zealand.”

“NewsRoom is both separate from but also highly complementary to Scoop’s suite of products and when the two are formally aligned under a common legal and management structure together they will provide a strong foundation for future growth. That is our intention, subject to agreement by the board and shareholders of Scoop Holdings Ltd,” he says.

The subscriber-based service provided to NewsRoom customers will continue on a business as usual basis. The service allows readers to track and aggregate relevant news from more than 150 different newswire sources and provides an archive of more than half-a-million news stories. Its customers include media organisations, legal and accounting firms, large corporations, government departments, and parliamentary offices.

Craig Pellett says Sublime Group’s involvement with Scoop was initially to help it stream-line some of its business processes and upgrade its technology - which is Sublime’s core area of expertise.

“But once we started to engage with Scoop’s shareholders, we saw their vision and decided to invest in the business ourselves. The vision we have all committed to is to make Scoop the home of the national debate. It’s a lofty goal and one worthy of pursuing.”

“We’re excited by the opportunity to create a well funded, well structured media company that offers a platform for New Zealanders to keep abreast of, and participate across, issues of national importance from politics to economics, to business and social issues,” he says. “We’ve been working with the shareholders and board of Scoop Holdings Ltd on a strategic plan and we look forward to bringing this vision to life.”

ENDS

About NewsRoom

NewsRoom began publishing in 1996 and was purchased by NZX in 2007. Its news feeds serve New Zealand’s top legal and accounting firms, large corporations, government departments, and parliamentary offices. Services include newsmail, intranet solutions and website feeds that enable customers to keep track of the daily news agenda as it unfolds, and pinpoint information specifically related to their sphere of interest.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news