Creditors to assume control of New Zealand’s MediaWorks
MediaWorks Holdings, a new company owned by a consortium of lenders, including Oaktree Capital and TPG Capital, has signed a conditional sale and purchase agreement for the New Zealand broadcaster and its subsidiaries.
In June receivers were appointed to oversee a restructuring plan where the broadcaster's assets would be placed in a new entity owned by the debt holders. The lenders agreed to reduce the debt to NZ$100...
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