New Zealand Media and Entertainment (NZME) has agreed to acquire print-plant equipment from rival publisher Stuff in a transaction valued at NZD 15 million.
The deal will see NZME relocate its printing operations from its historic Ellerslie site in Auckland, ending a 60-year presence at the location, to a new, smaller facility.
NZME stated that the consolidation is expected to generate cost savings as the company optimizes its physical footprint.
The move reflects the ongoing structural adjustment within the New Zealand media industry, where publishers are increasingly focusing on operational efficiency and reducing fixed costs associated with print production.
By acquiring assets from Stuff, NZME secures necessary equipment while simultaneously downsizing its real estate exposure in Auckland.
The transaction allows NZME to streamline its production chain without the capital outlay of building new infrastructure from scratch.