Press Release: Bauer Media Group Discontinues its Publishing Business in New Zealand

Auckland, April 2, 2020 – Bauer Media today announced its intention to close its
publishing business in New Zealand due to the severe economic impact of COVID-19. The
closure brings to an end many decades of publishing in New Zealand and affects all staff.
Bauer Media NZ publishes entertainment, lifestyle and current affairs titles including the NZ
Listener, Woman’s Day, New Zealand Woman’s Weekly, North and South and Next, along
with a digital network.

All New Zealand Bauer staff have been advised this morning that the business is no longer
viable and that it intends to close.

EY has been appointed to work alongside Bauer New Zealand to facilitate an orderly winddown
of the business.

Brendon Hill, ANZ CEO said: “This is a devastating blow for our committed and talented
team who have worked tirelessly to inform and entertain New Zealanders, through some of
the country’s best-loved and most-read magazines.”

Magazine publishing in New Zealand is currently suspended as part of the New Zealand
Government’s decision to move to the COVID-19 Level 4 restrictions. Mr Hill said: “We
understand the New Zealand Government’s decision to move to Covid-19 Level 4, but it has
put our business in an untenable position. Publishing in New Zealand is very dependent on
advertising revenue and it is highly unlikely that demand will ever return to pre-crisis levels.

In response to the situation, Bauer carried out an urgent review of its New Zealand
operations and considered all options to keep part or all of the business open, including
engaging with the New Zealand Government. Mr Hill said: “An active search is underway to
find buyers for our New Zealand assets, including our many iconic titles, however, so far an
alternative owner has not been found.”

Bauer Media Group has confirmed its intent to close the New Zealand business to its staff
and that funding will be provided to enable all staff to be paid their full redundancy and
leave entitlements.

Mr Hill concluded: “I would like to recognise the impact that this decision will have on our
suppliers, customers and the wider publishing industry. This is a very difficult time for the
entire media industry.”

The decision to close the business is effective as of 2 April 2020

Group press contact:
Bauer Media Group
Imke Weiland
Head of Group External Communications
T +49 40 30 19 10 88
M +49 171 94 61 519