KEY POINTS:
The stock exchange, NZX, has got into the news business, saying today it had purchased internet media company NewsRoom for an undisclosed sum.
Former Radio New Zealand journalist Peter Fowler founded NewsRoom in 1996.
NewsRoom said it was the first New Zealand news agency to use the internet, duplicating news releases to its website.
NZX said NewsRoom was an information tool that allowed subscribers to follow daily and breaking news as it unfolded.
NZX information products head Columba Cryan said NewsRoom was a great fit for NZX "because its core processes are a ready match for our existing market information businesses".
"NewsRoom will add scale and depth of information for new and existing NZX information clients, both here and offshore."
Fowler will stay on with NewsRoom to ensure a smooth transition process and to guide further developments planned for the NewsRoom service.
- NZPA
