NZME-Fairfax merger rejected

  • 19/12/2017
AUCKLAND, NEW ZEALAND - AUGUST 17:  The new NZME building in Graham St on August 17, 2016 in Auckland, New Zealand. Reports that NZME and Fairfax are set to merge, along with TVNZ and Mediaworks continue in New Zealand and in the Australian media.  (Photo by Fiona Goodall/Getty Images)
Photo credit: Getty

New Zealand's two biggest print and online media companies, NZME and Fairfax, will not be allowed to merge.

The media giants failed in their legal bid to overturn a Commerce Commission decision blocking them from joining forces.

The High Court released its decision on Tuesday morning, saying the appeal had been declined. 

The court said it had "upheld the jurisdiction of the commission to consider detriments beyond economic or financial detriments in the relevant markets".

NZME owns The New Zealand Herald and many regional papers as well as a large number of commercial radio brands including Newstalk ZB, The Hits and ZM.

Fairfax owns as well as regional papers like The Dominion Post, The Press and The Timaru Herald. 

More to come