NZME in talks with Fairfax for a possible merger
Fairfax New Zealand Limited and New Zealand Media and Entertainment are in talks for a possible merger.
Fairfax New Zealand Limited owns publications like Dominion Post, The Press and Stuff while New Zealand Media and Entertainment or NZME owns the New Zealand Herald and Newstalk ZB. The merger will create a giant media house owning most leading publications in the country.
There are concerns that a possible merger between two large print media giants might eliminate a forum for debates and risk the future of journalism in New Zealand. The two Australian-owned companies argue that the merger will allow them to be more sustainable and competitive against growing competition from online rivals.
Industry experts said that the two companies have to compete with the likes of online giants like Google and others, who are providing data to the users in the country. The two companies together will more capable of competing in the country. E tu spokesperson Paul Tolich has said that the union will hold talks with its members today relating to the possible merger between the two companies.
Victoria University senior media lecturer Peter Thompson said that the creation of a print media monopoly will not solve problems of the industry. He warned that the merger could result in fewer journalists and less public interest in journalism.
- Nikola Motors puts hydrogen fuel-cell semi truck Badger project on back burner
- BMW expands vehicle recall over battery issue to more than 4,500 U.S. plug-in hybrids
- Karma Automotive announces attractive price tag & unique features for upcoming GSe-6 electric sedan
- Twin River acquires iconic Bally’s brand from Caesars Entertainment for $20 million
- Wynn Resorts’ Encore to close for 3 days a week due to low demand