NEW ZEALAND

Auckland Newspaper Folds: The Auckland Star was closed Friday by Independent Newspapers Ltd. after losing $4.8 million in its last fiscal year. The Sunday Star, also owned by Independent Newspapers, will continue to be published. Company officials said it is profitable. Independent Newspapers bought the Auckland Star--which had a circulation of about 76,000 in March--the Sunday Star and eight community newspapers for $43.2 million in July, 1988. The papers were put up for sale when the Brierley Investments-owned New Zealand News group was broken up. The other major New Zealand newspaper is the Auckland-based New Zealand Herald, with a circulation of nearly 250,000.