NZX is ramping up its rural resources with the acquisition of farming publishing company Country-Wide Publications.

NZX revealed today that it has entered into a term sheet and is finalising an
agreement to acquire the rural publisher, which chief executive Mark Weldon describes as an “excellent strategic addition to NZX's set of rural information businesses" and a long-term investment in the rural sector.

Publications produced by Country-Wide include The NZ Farmers Weekly, Country-Wide North and Country-Wide South, NZ Dairy Exporter, Deer Farmer and Young Country.

It marks the second change in ownership for NZ Dairy Exporter in several months, after former publisher 3Media sold the magazine to Country-Wide in December.

Country-Wide is currently owned by Dean Williamson and Tony Leggett after they purchased the publisher in 1997 and they will continue to manage the company under the acquisition agreement from Country-Wide’s headquarters in Fielding.

Mr Weldon says the deal is important as the primary sector underpins the New Zealand economy and the team at Country-Wide deeply understands its farmer readership.

“Farming is the biggest single industry in New Zealand, and farmers are innovative businesspeople who rely on timely and robust data and information to make sound decisions.”

The publisher produces 78 publications a year under seven mastheads and had a turnover of more than $7 million in 2008.

Mr Williamson says the arrangement would create a raft of new opportunities, while Mr Leggett adds that print media remains the right medium to reach farmers at this point in time.

“As we see increased broadband penetration in rural areas, we are likely to see more interest in our online offerings and will continue to develop products in this space," says Leggett.