February 4, 2018 / 9:35 PM / 3 months ago

CORRECTED-NZME confirms appeal to High Court on Fairfax merger

(Corrects all figures in third paragraph to NZ$ from A$)

Feb 5 (Reuters) - NZME Ltd, the owner of New Zealand’s top-selling newspaper, on Monday confirmed that it will apply for leave to appeal the high court’s decision to bar its merger with Fairfax Media Limited’s New Zealand unit.

The appeal by NZME and Fairfax to the High Court was heard in October after the Commerce Commission barred the deal in early May, after considering it for almost a year.

The owner of the New Zealand Herald said the court’s findings increased the range of estimated net benefits from the transaction to NZ$133 million ($96.92 million) to NZ$209 million, up from the NZCC’s estimated range of NZ$41 million to NZ$204 million. ($1 = 1.3723 New Zealand dollars) (Reporting by Sandhya Sampath in Bengaluru; Editing by Kevin Liffey)

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