NZME says its pursuit of rival Stuff is progressing, with "active engagement" with the Government about taking on a Kiwi Share obligation.
NZME, publisher of the NZ Herald, has sought the Government's support to buy Stuff, which is owned by Australian media company Nine.
The proposal would involve the Stuff newsroom being transferred to an NZME subsidiary company in which a Kiwi Share would be held by the Government.
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"NZ First has put their support in behind the proposal and we are absolutely delighted with the engagement we are having from Government," NZME chief executive Michael Boggs said after announcing the company's full-year result.