Merger talks confirmed for Fairfax NZ, NZME

(Reuters)
(Reuters)

Fairfax and APN have confirmed rumours they are in talks to merge their New Zealand media operations.

Speculation intensified on Monday when APN put a halt on trading of its shares on the New Zealand Stock Exchange.

The merger talks affect only the two companies' New Zealand operations, which involve newspapers, radio and digital productions.

Details of the proposal have not been discussed between the two companies yet, as regulatory approvals are needed, Stuff.co.nz says.

But predictions suggest a merger could be possible by the end of 2016.

Executives and union leaders are meeting at both media organisations today.

There are more than 3000 staff across the two companies.

The Commerce Commission and the Overseas Investment Office need to authorise and approve the merger plan before it can go ahead. 

Newshub.

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