NZ broadcaster MediaWorks has refuted claims Seven West Media is eyeing a takeover deal.
MediaWorks has denied being in discussions with the Australian company, and said that no talks had taken place.
Specultion had been raised that Seven West and MediaWorks were in the 'nitty gritty' of working out a final deal, but a spokeswoman for the NZ broadcaster denied the story.
“I can confirm that MediaWorks is not in discussions with Seven West Media,” the spokeswoman said.
The spokeswoman also said that it was never in talks with the Australian company.
MediaWorks placed in administration last year after piling up NZ$700 million ($A644.2 million) in debt, before it was bought out by a company connected to the network's lenders KordaMentha.
It was thought that Seven West was on the lookout for merger and acquisition opportunities, with CEO Tim Worner not ruling out the possibility when quizzed at the company's AGM.
The lure of a recapitalised company with significant reach in the NZ market could have been tempting for the Australian company, with synergies in marketing, content, and advertising floated as reasons for the reported interest.
Contacted by AdNews earlier this week, Omnicom CEO in Australia and New Zealand Leigh Terry said the synergies would be interesting, but he had heard nothing about the two companies coming together.
“I think there would be efficiencies there, but they're totally separate markets and it's way too early to tell whether the offering would be enticing enough for advertisers,” he said.
“You've really got to wait to see how it plays out, but the potential is there for that cross-selling.”
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