INDEPENDENT NEWS

RadioWorks cleared to acquire radio FM spectrum

Published: Thu 1 Sep 2005 01:48 PM
31 August 2005
CanWest RadioWorks cleared to acquire radio FM spectrum licences
The Commerce Commission has cleared CanWest RadioWorks Limited (RadioWorks) to acquire six new radio FM spectrum licences allocated by the Ministry of Economic Development.
RadioWorks sought clearance to acquire the following six licences in Northland: 90.00 MHz at Maungataniwha (Far North); 92.40 MHz at Parahaki (Whangarei); 91.60 MHZ and 94.00 MHz at Horokaka (Whangarei); and 91.60 MHz and 94.00 MHz at Hikurangi (Mid North).
As a result, RadioWorks proposes to introduce two new stations: Radio Live in the Mid North and The Rock in the Mid North, Far North and Whangarei.
Commission Chair Paula Rebstock said that, after the acquisition, RadioWorks would continue to face competition in the provision of radio advertising services in the Northland region, mainly from The Radio Network, as well as some countervailing power from advertisers.
Therefore, the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition.
RadioWorks is a wholly-owned subsidiary of CanWest MediaWorks (NZ) Limited which is 70% owned by Canadian media company CanWest Global Communications. The remaining 30% of MediaWorks shares are in public ownership following a float of the company on the New Zealand Stock Exchange in July 2004.
A public version of the written decision will shortly be available on the Commission’s website, www.comcom.govt.nz under Public Registers.
ENDS

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