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Fairfax NZME merger decision delayed a day

NZN 27/04/2017

The competition watchdog has again delayed its decision on a proposed merger between media companies Fairfax New Zealand and NZME - but just by one day.

The Commerce Commission says the decision on the deal will still be made public next week, but has moved the announcement from Tuesday to early Wednesday morning to allow for it to be formally signed off.

New Zealand's two dominant media players in September 2016 agreed to a merger deal that would give Australia's Fairfax Media a 41 per cent stake in the combined business.

A preliminary report by the commission said it would likely oppose the plan as it would substantially lessen competition in a number of markets.

It earlier pushed back its final decision on whether to allow the merger from April to May, after receiving a "lengthy submission" from the two companies in support of the proposal.

A final decision was originally expected on March 15, but was delayed.

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