Media group NZME has made an offer to buy rival Stuff for a nominal $1.Photo: RNZ
It has applied for Commerce Commission approval and seeks special legislation from the government by end of the month.
The commission has previously declined clearance for a merger of the two companies, saying it would substantially lessen
competition, both for advertisers and readers.
Last month NZME announced 200 jobs would go as a cost-saving response to the Covid-19 downturn.
Stuff also asked its employees to take a pay cut.
NZME says the acquisition of Stuff would lower the costs of producing news, and ensure a committed local news media
outlet into the future.
Between them, NZME and Stuff own most of the country's newspapers, and NZME also operates a network of commercial radio
stations.
Stuff is currently owned by the Australian TV Channel Nine.
More to come...