New Zealand: TVNZ to sell advertising networks to media giant, company says

New Zealand media company TVNZ has confirmed it will sell advertising-focused advertising networks and content-focused networks to Rupert Murdoch’s News Corporation.

The deal is expected to be announced on Wednesday.

News Corp and the New Zealand government are expected to announce the news at a media conference on Wednesday morning.

The New Zealand News Corporation (NZNUK) will sell three advertising networks – Media Networks, Media Network Advertising and Media Networks Network.

News Corp will also sell a content-driven network called NZM.

New Zealand’s media companies said they are confident the deal will generate more than $5 billion in direct and indirect investment.NZNuk said it will continue to invest in the digital business, including developing its digital platform to deliver a more robust digital experience.

The company said it would also be introducing new products and services, including the launch of NZM’s new content network, NZM Media.

“The combination of our media business and our digital platform is designed to support the growth of our online content businesses and enable us to continue to drive a diversified digital strategy,” NZNuk CEO David Smith said.

“It’s a fantastic opportunity for us to grow our business and ensure that our customers are the beneficiaries of the investments we make.”NZNUK said it had secured the deal for the advertising network to build on its existing advertising network in New Zealand and expand into other markets, and to be part of the new NZM network.NZM’s chief executive Michael Pidgeon said the deal was “exciting” and “an excellent fit for NZNUK”.

“It will create a robust, sustainable and scalable business, which will be in place for many years to come,” he said.NZ Media will also retain its advertising revenue from NZNUUK.NZNews Network will continue as an independent media company.

It will continue with its existing businesses, including NZM, and will remain the largest advertising network for NZ.NZ News Network will also remain a part of News Corporation’s News Business unit.

The sale of NZNNUK’s advertising network is the latest in a series of transactions by the Murdoch empire, which has been under intense scrutiny since its Australian takeover in 2015.

The Australian government is investigating News Corp over its handling of the acquisition.

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