Well this is interesting…
NZ Herald owner NZME has today sought urgent Government help to allow it to buy rival publisher Stuff within three weeks, saying it is the best owner to save newspapers and jobs.
It has filed an urgent Commerce Commission application today for the purchase – for $1 – and wants to have the transaction complete by May 31.
It is seeking the Government’s help with urgent legislation to help clear the application.
…interesting because of what it might be saying about what is happening behind the scenes.
Stuff have already come out and said they have terminated talks with NZME and have been blindsided by this announcement.
So what does NZME know that Stuff doesn’t want the market to know?
Could it be that NZME knows Stuff is on its last legs and are preparing to do a Bauer and they are trying to communicate to the Commerce Commission that it’s better Stuff limps along with NZME than goes completely?
Clearly NZME knows something that the rest of the market doesn’t.