NZME plans to sell GrabOne business

https://www.rnz.co.nz/assets/news_crops/63775/eight_col_STUFFME_BCGW0587.jpg?1534979906

NZME is planning to sell its GrabOne business as part of a three-year strategy, which includes the possible rebranding of some of its publications.

The Commerce Commission has declined a merger which would have created New Zealand’s biggest news media company
Fairfax Media NZ, Stuff.co.nz, 
NZME, NZ Herald.

The Commerce Commission has declined a merger which would have created New Zealand’s biggest news media company
Fairfax Media NZ, Stuff.co.nz,
NZME, NZ Herald.



Photo: RNZ / Brad White

The media company confirmed it was on track to meet its underlying profit margin guidance for the financial year ending December of between $63 million and $66m, with an improved guidance over the next three years.

NZME, which owns Newstalk ZB and The New Zealand Herald and other media brands, is going to focus broadening its audience reach.

Among its goals is for digital-only subscriptions to exceed print subscriptions by 2023, with more than 210,000 total subscribers.

NZ Herald Premium subscribers currently total more than 93,000 including 49,000 paid digital subscribers.

It also hopes more than 15 percent of all households will be Herald subscribers in print or digital by 2025.

It is planning to grow its national audience by rebranding some of its mastheads, so the Northern Advocate would become Northern Herald, the Rotorua Daily Post would be rebranded Rotorua Herald and so on.

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