CanWest buys Rodney radio station

Broadcaster CanWest Mediaworks NZ said today it has added another radio station to its stable.

The company, whose national radio brands include Radio Live, More FM, Radio Pacific and The Edge, said it has bought Orewa-based Times FM from Times Media Group, for an undisclosed sum.

The purchase includes two FM frequencies 89.9FM and 96.6FM covering the Rodney district north of Auckland, including Whangaporaoa, Orewa, Warkworth, Wellsford, Matakana and surrounding districts.

CanWest NZ chief executive Brent Impey said it gave the company a strong foothold in the Rodney district, one of the country's fastest growing regions.

Shares in CanWest NZ, which listed on the NZSX in July last year after parent company CanWest Global Communications Corp floated 30 per cent of the company, last traded yesterday at $1.88, against a year high of $2.44 and a low of $1.53.

CanWest NZ owns the TV3 and C4 television stations, national radio brands The Edge, The Rock, More FM, Kiwi FM, Radio Live, Radio Pacific, Solid Gold and The Breeze, and several local radio stations.

- NZPA