Bauer Media NZ shuts down
By Jonas Lopez in Media News on Thursday, 02nd April 2020 at 2:52pmThe coronavirus situation has triggered the closure of Bauer Media New Zealand.
Company CEO Brendon Hill told staff over a Zoom video conference that the current Alert Level IV lockdown proved untenable for the company to keep going. As a result, 237 people will be given full redundancy benefits and leave entitlements, while accounting outfit EY will aid in winding down the company.
"In response to the situation, Bauer carried out an urgent review of its New Zealand operations and considered all options to keep part or all the business open, including engaging with the New Zealand Government. An active search is under way to find buyers for our New Zealand assets, including our many iconic titles, however, so far an alternative owner has not been found," he said.
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