I.N.L. makes Timaru pact
PA Timaru Independent Newspapers. Ltd, will take up a 20 per cent holding in the Timaru Herald Company. Ltd. This was announced last evening by the chairman of directors ' of the “Timaru Herald," Mr R. H. Kerr, and the chairman of directors of 1.N.L., Mr F. H. Kember. In a joint statement they said they had unequivocally -welcomed the move because it ensured the future of the “Timaru Herald” as a prosperous and substantially independent South Canterbury publication. I.N.L. will have one director on the “Timaru Herald ” board, but the Timaru company will be independent of
its Wellington associate. “We emphasise that this is an association with 1.N.L., not a takeover by 1.N.L.." the statement said. “The potential of this partnership is already expressed in the ‘Herald’s’ printing of I.N.L.’s ‘New Zealand Times’ South Island edition, and other such publishing ventures are being considered. “Both companies gain from this type of joint venture and, what particularly pleases us, South Canterbury gains from added business. “The ‘Timaru Herald’ has served South Canterbury for 118 years. We have confidence" that its new link with I.N.L. will greatly help it continue this fine record."
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Press, 26 February 1983, Page 3
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195I.N.L. makes Timaru pact Press, 26 February 1983, Page 3
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