A court decision has shown there is a second buyer vying for news organisation Stuff.
On Thursday Justice Sarah Katz un-suppressed details of negotiations which show Australia's Nine Entertainment is in discussions to sell Stuff to an unnamed buyer with an unconditional offer timed for May 31, reports Newsroom.
The mystery bidder is the latest hurdle for rival publisher NZME, which has been vying to merge with Stuff since 2016.
On Tuesday NZME abandoned its bid to buy Stuff withdrawing its application to the Commerce Commission seeking permission for the purchase.
The move followed the High Court's refusal to grant NZME an interim injunction that would have forced Nine back into an exclusive negotiation period regarding the website's sale.
The company, which hoped to acquire Stuff by May 31, sought Government assistance to pass legislation to allow the purchase.
The information revealed on Thursday showed the Government previously rejected NZME's offer to buy Stuff and refused to pass the legislation that would have made it possible.
The Commerce Commission had also declined to consider the purchase. In the decision, Justice Katz said these two conditions meant Nine felt there was no way for NZME to complete the deal and buy Stuff and therefore the exclusive negotiating period between Nine and NZME would end.
Justice Katz rejected NZME's request for Nine to stop talking to other parties saying an injunction of such sort would be against the interest of Stuff and it's employees and could have resulted in a loss for Nine if the deal did not go through.
