4 Oct 2012

Mediaworks clears debt with Crown

4:29 pm on 4 October 2012

Broadcaster MediaWorks has cleared its debt with the Crown for radio spectrum licences nearly two years ahead of schedule.

In 2010 Mediaworks, which owns TV3 and Radio Live along with seven other broadcasters, sought relief from paying the $96 million owed the Crown for its 20-year spectrum licences in one lump sum.

After some lobbying, the Government agreed to a staggered payment scheme.

Communications and Information Technology Minister Amy Adams says Radioworks has made its last payment towards the $43 million it owed.

The company was not due to complete payments until October 2014.