One of Fiji's oldest and main newspapers, Fiji Times, is being put on the market by its owner, News Ltd.According to a report by Richard Naidu on Fijilive last week, News Ltd. is 'moving ahead with putting up the Fiji Times newspaper on the market, appointing consultants PricewaterhouseCoopers to advise on "a possible sale"'.
In a statement the company said: "PricewaterhouseCoopers will advise on issues such as the value of the business, potential purchasers and marketing for a possible sale. The project team at PricewaterhouseCoopers will be led by Ms Jenny Seeto based in Fiji. Her team will include personnel based in Fiji and in Australia."
The move comes as the newspaper faces a September deadline to adhere to requirements under the Fiji Media Industry Development Decree for all media organisations to be 90 percent locally owned.
Said News Ltd chairman John Hartigan: "Selling the Fiji Times is not a certainty and it's not what we want. The environment is difficult but given the decree is clearly designed to force us to sell and pull out of Fiji within three months. We need to actively investigate all our options. Our priority is the welfare of our staff in Fiji and their ongoing employment.
Established in 1869, Fiji Times is Fiji's oldest newspaper