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Fairfax NZME merger decision delayed again

NZN 28/03/2017

The competition watchdog has once again delayed its decision on a proposed merger between media companies Fairfax New Zealand and NZME.

The Commerce Commission on Wednesday announced it would be pushing back its final decision on whether to allow the merger from April 11 to May 2, after receiving a "lengthy submission" from the two companies last week in support of the proposal.

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.

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

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