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Monday, June 17, 2013

MediaWorks in receivership

Shock news bulletin

June 17 (BusinessDesk) - MediaWorks New Zealand, the broadcaster whose stable includes TV3 and Four, and radio stations including Radio Live, the Rock and MoreFM, is expected to be put into receivership today after a planned recapitalisation failed to win over its lenders.

It is understood KordaMentha will run the receivership as part of a restructuring plan to switch assets into a new entity, write down the company's debt, and allow the broadcaster to continue operating.

Story by Paul McBeth

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