NZPA set to close by year-end

The New Zealand Press Association, which is owned by the country's daily newspaper publishers, said the future of its news wire was being reviewed after Fairfax Media, one of its major shareholders, gave notice of its withdrawal from the co-operative. NZPA chairman Michael Muir said the other major shareholder, APN, would be reviewing its own newspaper and online news services. A final decision on the future of NZPA would be made at the end of the month after staff feedback had been considered. It would be operating as usual in the meantime.

Fairfax Media group executive editor Paul Thompson said the NZPA service was no longer as valuable as it once was.

Fairfax’s New Zealand chief executive Allen Williams said the company had been investing heavily in the development of unique content. “News should not be treated as a commodity – media companies can and should establish points of difference with their coverage. Fairfax has made a choice to concentrate on development of its own unique content rather than subscribing for non-exclusive content from NZPA.”

NZPA was founded in 1878 as the United Press Association. It adopted its present name in 1942. The New Zealand agency and the Australian Associated Press became junior partners in the ownership of Reuters alongside Britain’s Press Association and Newspaper Proprietors’ Association in 1947. NZPA bought 2,500 shares for £11,250, a useful cash injection to Reuters at that time. As part of the deal, Reuters accepted approved Australian and New Zealand journalists as joint correspondents, especially in the Pacific area. ■