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

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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