{"id":504195,"date":"2026-07-01T08:32:09","date_gmt":"2026-07-01T08:32:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/504195\/"},"modified":"2026-07-01T08:32:09","modified_gmt":"2026-07-01T08:32:09","slug":"mercury-to-close-its-now-telco-and-broadband-unit-with-loss-of-70-jobs-across-four-cities","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/504195\/","title":{"rendered":"Mercury to close its Now telco and broadband unit with loss of 70 jobs across four cities"},"content":{"rendered":"<p class=\"NQVPqQgxO\" style=\"display:none\">\u201cThis is obviously tough news for the Now team, and we\u2019re committed to working with the Now management team to support them well throughout,\u201d he said.<\/p>\n<p class=\"NQVPqQgxO\" style=\"display:none\">The plan was to migrate Now\u2019s residential customers to Mercury.<\/p>\n<p class=\"NQVPqQgxO\" style=\"display:none\">Now would help its business customers transition to new providers, Neustroski said.<\/p>\n<p class=\"NQVPqQgxO\" style=\"display:none\">Mercury has owned 100% of Now since 2022, after initially acquiring around half of the business in 2021.<\/p>\n<p class=\"NQVPqQgxO\" style=\"display:none\">In December 2022, Mercury acquired the remaining shares of Now that it did not already own, having made an initial investment of 48% in March 2021.<\/p>\n<p class=\"NQVPqQgxO\" style=\"display:none\">Shares in Mercury were trading at $6.81 today, up 10.9% in the past year.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThis is obviously tough news for the Now team, and we\u2019re committed to working with the Now management&hellip;\n","protected":false},"author":2,"featured_media":504196,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[6203,1443,2840,95,1561,3896,138,4487,3071,651,3011,6288,1976,302,232,2225,10138,111,139,425,69,1118,312,1227,65984,61,8443,102],"class_list":["post-504195","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-6203","tag-about","tag-across","tag-and","tag-bay","tag-broadband","tag-business","tag-christchurch","tag-cities","tag-close","tag-four","tag-hamilton","tag-hawkes","tag-its","tag-jobs","tag-loss","tag-mercury","tag-new-zealand","tag-newzealand","tag-now","tag-nz","tag-of","tag-says","tag-tauranga","tag-telco","tag-to","tag-unit","tag-with"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/504195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=504195"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/504195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/504196"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=504195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=504195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=504195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}