Publisher denies sale deal

By SIMON HENDERY

Publisher IT Media has denied speculation it is about to offload its fledgling weekly, the New Zealand Business Times.

Christchurch-based New Zealand Media Group is believed to be interested in the Business Times, which was launched in March.

IT Media managing director Tim Connell said yesterday that like any business, the magazine was for sale at the right price, but he had not spoken to anyone recently about a sale.

The company was focused on launching a revamped and expanded Foodtown Magazine after winning a contract with the supermarket chain's owner, Progressive Enterprises, Mr Connell said.

Phil Vosper, group general manager of IT Media's parent company, Wilson Neill, also denied a deal had been done to sell the Business Times. "There's a lot brewing [within the company] but it's not appropriate for any of it to be made public just yet."

New Zealand Media Group chief executive Geoffrey Botkin declined to comment.

The group's media interests include Canterbury Television, which it bought this year, and a new Canterbury newspaper, The Citizen.