NZX sells NewsRoom to Sublime Group for undisclosed sum

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

NZX, the stock exchange operator, has agreed to sell its online news unit NewsRoom to Sublime Group for an undisclosed sum, after undertaking a strategic review of options for the business.

The sale will take effect from the end of the month and won't have a material impact on NZX's results or financial position, the Wellington-based company said in a statement. NZX bought NewsRoom in 2007 for $1.18 million, and started reviewing the unit's future with the stock market operator last year.

Auckland-based Sublime automates manual workflows to reduce the cost of doing business, according to its website. It counts Craig Pellett and Cowan Pettigrew as its biggest shareholders.

NZX shares were unchanged at $1.26 today.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6594 0.0028 0.43%
AUD 0.8877 -0.0152 -1.68%
EUR 0.6011 0.0015 0.25%
GBP 0.4218 0.0007 0.17%
HKD 5.1094 0.0187 0.37%
JPY 81.6530 0.2840 0.35%

Commods

Commodity Price Change Time
Gold Index 1089.2 -5.700 2015-08-03T00:
Oil Brent 50.2 -2.020 2015-08-03T00:
Oil Nymex 45.2 -1.860 2015-08-03T00:
Silver Index 14.5 -0.230 2015-08-03T00:

Indices

Symbol Open High Last %
NZX 50 5957.9 5957.9 5957.9 -0.40%
NASDAQ 5111.0 5125.9 5115.4 -0.16%
DAX 11408.2 11476.9 11443.7 0.13%
DJI 17596.9 17635.8 17598.2 -0.08%
FTSE 6688.6 6715.5 6688.6 -0.03%
HKSE 24364.4 24519.3 24411.4 -0.02%
NI225 20462.2 20552.0 20548.1 -0.14%