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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