
New Zealand Herald publisher NZME should be afraid. It remains to be seen whether it should it be very afraid.
The abrupt exit by company chairman Peter Cullinane last week was the first move against the company by Australian fund manager shareholders but it will not be their last.
Cullinane resigned only hours before a shareholders’ meeting at which he was up for re-election and later conceded that “it recently became apparent that I didn’t have the support of significant Australian fund managers.”
He said the obvious reason was the depressed share price. Continue reading “How afraid should NZME be?”