INDEPENDENT NEWS

Future still murky for TVNZ

Published: Wed 16 Oct 2002 03:05 PM
Future still murky for TVNZ
Murray McCully - National Broadcasting Spokesperson
Government meddling can take some of the blame for the drop in TVNZ’s after tax profit according to National Broadcasting spokesman Murray McCully.
He says it’s clear from the annual report that restructuring’s cost the company close to $5 million and there’s more to come.
“The company’s still coming to terms with the Government orchestrated ‘charter’, which is expected to impose significant new costs on the business.”
Mr McCully says it’s also now evident the bungled bid to co-host the Rugby World Cup has cost the Government owned network more than five million dollars.”
“Advertising revenue is down, income from TVNZ’s transmission businesses is down, and they won’t tell us how much money the company’s nzoom internet site is losing,” says Mr McCully.
“Even TVNZ admits it’s still trying to figure out how to fund its obligations under Labour’s new “Charter”, so the uncertainty’s a long way from being over for a key Government asset.”

Next in New Zealand politics

A New National For New Zealand
By: New Zealand National Party
Cancer Society Hopes Final Pharmac Report Is Stronger
By: Cancer Society
New Zealand Response To Assist Peace And Stability In Solomon Islands
By: New Zealand Government
Child Poverty Monitor 2021 Highlights Persistent Inequities In Rates Of Child Poverty
By: Child Poverty Action Group
Bridges Appointed Finance & Infrastructure Spokesperson
By: New Zealand National Party
Waitangi Week
By: Waitangi National Trust
View as: DESKTOP | MOBILE © Scoop Media