NZME Fairfax NZ merger update

Sydney and Auckland, 22 August 2016:

NZME Limited (NZX:NZM, ASX:NZM) ("NZME") and Fairfax Media Limited's (ASX:FXJ) Fairfax New Zealand Limited ("Fairfax") have received, and agreed to, a request from the New Zealand Commerce Commission ("NZCC") to extend the date for the NZCC's decision on the proposed merger of the two businesses. The process and extension is consistent with the NZCC's typical practices.

The NZCC are seeking to provide a draft determination on the proposed merger in November, with a final determination targeted for before 15 March 2017. The extension is part of the NZCC's usual process and allows for the steps set out in the NZCC Authorisation Guidelines to be completed in a timely way.

As set out in their recent cross-submission, NZME and Fairfax do not believe anything in the public submissions filed by interested parties undermines the key arguments  made in the original application which support a clearance or authorisation being granted in respect of their application.