Newspaper no longer independent

Weekly business newspaper The Independent has been bought by Fairfax New Zealand for an undisclosed sum.

Fairfax NZ chief executive Joan Withers said the addition of a weekly business publication to its stable of titles was a logical extension for the company. She said Fairfax hoped to develop The Independent into New Zealand's weekly equivalent of the Australian Financial Review.

No editorial positions would be made redundant as a result of the purchase but some business administration positions would disappear.

- NZPA