ANEWSPAPER MERGER
AUCKLAND AND CHRISTCHURCH PAPERS INVOLVED (Special to THE SUN) CHRISTCHURCH, Thursday. The directors of the “Lyttelton Times’’ Company, Ltd., have circularised shareholders regarding the basis of an agreement said to have been reached between the Brett Printing and Publishing Co., Ltd., of Auckland, proprietors of the “Auckland Star” and other publications, and the “Lyttelton Times” Newspaper Co., Ltd., Christchurch, proprietors of the “Lyttelton Times” and “Star” newspapers. A new company “New Zealand Newspapers, Ltd.,*- is to be formed, with a nominal capital of £1,000,000. The paid capital issued in consideration of the existing businesses will be £105,000 to the shareholders of the “Lyttelton Times” Co., £477,500 to the shareholders of the Brett Printing and Publishing Company; total, £552,500. The present capital of the “Lyttelton Times”, is £IOO,OOO, and the shares have changed hands recently in the vicinity of 30s. The “Lyttelton Times” claims to be the oldest newspaper in New Zealand and its evening edition, known as “The Star,” was established over 50 years, ago. The Brett Printing and Publishing Co., Ltd., has a capital of £300,000 and the market assesses the value of the shares at about 50s.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19290419.2.126
Bibliographic details
Sun (Auckland), Volume III, Issue 642, 19 April 1929, Page 11
Word Count
191ANEWSPAPER MERGER Sun (Auckland), Volume III, Issue 642, 19 April 1929, Page 11
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