TVNZ dividend dips as crisis deepens

Published: Wed 16 Nov 2005 01:54 PM
Hon. Georgina te Heuheu MP National Party Broadcasting Spokesman
16 November 2005
TVNZ dividend dips as crisis deepens
National Party Broadcasting spokeswoman Georgina te Heuheu says the annual report released by TVNZ today is "an historic snapshot taken before the current set of crisis".
The report shows a sharply reduced dividend paid to the Government of $10.5 million -- down from $37.3 million last year, while the number of employees earning more than $100,000 a year rose from 82 to 89.
"The dividend, the return on the taxpayer investment in TVNZ, is well down.
"Worryingly, that massive drop was posted before all the recent publicity about loose contracts, internal strife and golden handshakes.
"With the decline in ratings for the flagship TV One news, there are outstanding questions about the longer term impact this will have on advertising revenues.
"TVNZ and its political masters are not out of the woods yet," says Mrs te Heuheu.

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