NZX media buy sparks competition complaint

NZX's acquisition of farming publisher Country-Wide has sparked a complaint to the Commerce Commission.

The complaint was made by Max Bowden, publisher and editor-in-chief of Trans Tasman, The Main Report and an agricultural newsletter, who said he believed the acquisition breached the Commerce and Fair Trading Acts.

He said he was deeply concerned that NZX was trying to act both as a regulator and a player in the rural publishing market, The Dominion Post reported today.

Bowden said he was particularly worried about an internal memo sent to staff on Tuesday by NZX business acquisitions manager Rachael Cross.

"The acquisition will enable us to corner the market as the provider of agri information, news and media on NZ agri sector for farmers and corporates alike," said Cross.

NZX chief executive Mark Weldon described the criticism as "bonkers".

"It is desperate balderdash to suggest there is any conflict of interest," he said.

It sounded like typical responses from competitors, he said.

- NZPA