CANWEST BUYS NEW ZEALAND RADIO STATIONS
By Adnews Staff
Winnipeg-based CanWest Global Communications has increased its presence in the New Zealand broadcast market. The company has bought More FM for $30.9 million, which operates seven stations in Auckland, Wellington, Chrischurch and Dunedin, as well as a few unused frequencies. CanWest already owns 68% of New Zealand TV station TV3, which contributed about 10% to the company's total international revenues during the six months ending Feb. 28.
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