Kiwi publishers Stuff Limited and NZME have continued their fight for a media merger, this week appealing the High Court’s decision to uphold the block on the pair’s consolidating.
The companies initially appealed the Commerce Commission’s decision to decline the merger in the High Court last October, ultimately failing to persuade the judge that the competition watchdog’s evaluation of the media landscape was inaccurate.
The appeal of the High Court decision began on Tuesday and is expected to finish Friday. A ruling is unlikely in the short term.
Stuff Limited (owned by Fairfax Media) and NZME will need to re-evaluate the terms of the agreement should the ruling be overturned in light of considerable changes within each of the businesses.