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.”

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