Media Fortune Fame & Folly

Discovery buys TV in NZ

Discovery Inc, listed on Nasdaq in the US with a $11bn market cap, is to buy the free-to air TV interests of New Zealand’s MediaWorks including Three and Bravo channels, ThreeNow streaming service and news platform Newshub.

The MediaWorks radio and outdoor interests are not included in the sale. MediaWorks has a 4m audience across all its platforms and claims to be New Zealand’s largest independent broadcaster. However, the TV division was unprofitable and was touted for sale in October 2019. Terms not disclosed. 

Discovery Inc