(ed:..ya hafta say – well done commerce commission..!..eh..?..)
In a draft determination released this morning the Commerce Commission has proposed to decline the NZME/Fairfax merger.
In a tweet it hashtagged the proposed merger as #StuffMe.
NZME owns the NZ Herald – Herald on Sunday – nzherald.co.nz website – a range of regional newspapers – Newstalk ZB and a range of entertainment radio stations while Fairfax owns stuff.co.nz – the Sunday Star-Times and other metropolitan and regional newspapers.
The Commission said in its preliminary view the merger would be likely to substantially lessen competition in a number of markets – including the markets for premium digital advertising – advertising in Sunday newspapers and advertising in community newspapers in 10 regions throughout New Zealand.
‘It also considers the merged entity would be likely to increase subscription and retail prices for Sunday newspapers and introduce a paywall for at least one of its websites’ the Commission said in its draft determination.
The two media companies made a joint statement to the NZX this morning – saying the Commission’s concerns relating to plurality of media were ‘unquantified’.