7 Nov 2013

Mediaworks sale nears completion

2:26 pm on 7 November 2013

The receivers of Mediaworks have announced the sale of the company's business and assets will be completed on Friday.

Mediaworks went into receivership in June owing nearly $800 million to several banks. The company's broadcast assets include TV3, the Four television channel and several radio networks.

Receiver Brendon Gibson of KordaMentha says the company will be owned by Mediaworks Holdings Limited and its subsidiaries and there will be no job losses.