PRESS DIGEST-New Zealand newspapers - March 5

WELLINGTON, March 5 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Tuesday.

Stories may be taken from either the paper or Internet editions of the papers.

Reuters has not verified these stories and does not vouch for their accuracy.

DOMINION POST(www.stuff.co.nz)

Sales pitch ramps up for 'state asset rush': A ${esc.dollar}1 million advertising campaign will today kick off the Government's bid to spark a rush for shares in the first sale of state assets in more than a decade.

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House asking prices soar: Wellington property buyers can expect asking prices to remain strong after reaching an all-time high ${esc.dollar}453,220 average in February, according to today's latest New Zealand Property Report.

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Sky boss aware of selloff chances: Sky Television chief executive John Fellet was winging his way to Australia yesterday as his company's 44 per cent owner News Corporation began the process of selling NZ${esc.dollar}815 million worth of shares.

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Zac Guildford to front NZRU misconduct hearing: Zac Guildford's rugby future may be determined this week. It is understood Guildford, 23, will appear at a New Zealand Rugby Union misconduct hearing on Thursday after being involved in an alcohol-related incident in Christchurch in January.

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NEW ZEALAND HERALD (www.nzherald.co.nz)

Kiwis at head of queue for shares - Key: Ordinary New Zealanders will be favoured "at every turn" of the Mighty River Power share sale which gets underway today, says Prime Minister John Key, who has pledged at least NZ${esc.dollar}2000 worth of shares for those who want them.

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Building landlords cry poor: Landlords are crying poor and seeking financial assistance in the face of proposals to strengthen thousands of old buildings.

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Key to push free trade in Mexico: After Prime Minister John Key lands in Mexico City this afternoon, one of his first duties will be to pay homage to Mexico's historic heroes, Los Ninos Heroes - or the Heroic Children.

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Brokers ready for Mighty River float: Market players are anticipating strong demand for the Government's partial float of Mighty River Power and are ramping up their businesses in preparation for its sharemarket listing.

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${esc.dollar}1b drought hit tipped for economy: Drought is likely to shave 0.5 per cent off gross domestic product by the end of the year and take a toll on next year's output as well, says ANZ bank.

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Locals in for Sky sell-down: Rupert Murdoch's sell-down of his 43.6 per cent share of Sky TV leaves local management with greater influence over the pay television operator. Frank Aldridge, managing director of Craigs Investment Partners which sold the stake, said demand had been very strong for the placement which was sold at ${esc.dollar}4.80 - a 7 per cent discount on its ${esc.dollar}5.17 close on Friday.

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