Tag: NZME

No printed Herald? Let’s hope the speculation is wrong

Amid a wave of speculation in The Australian about the future of New Zealand publisher and broadcaster NZME, one line sent a shiver down my spine. It suggested the owner of the New Zealand Herald could opt for “a digital-only publication model”. That would decimate its newsrooms.

Normally, speculation is just that: Something to take with a grain of salt until it comes to pass or not. However, the editor of The Australian’s Dataroom column, Bridget Carter, seems to have been particularly well plugged-in to the NZME boardroom battle precipitated by Canadian billionaire and New Zealand resident James Grenon.

Carter has been devoting more space than usual to what is happening, or about to happen, to media on this side of the Ditch and, although her suggestion of interest in NZME from toy manufacturer Nick Mobray did not pan out, she has been up with the play on other scores.

Hence, I am more inclined to put some weight on her predictions for the directions that a reconstituted NZME board might take. For example, I agree that there could be a pull-back on the plan to move more into news video streaming (by no means a guaranteed revenue source). She also flagged investing in talent to boost subscriptions and I can see the benefit of that.

However, I hope she is wrong about a potential move to a digital-only publication environment.

Yes, I freely concede that on my bookshelf is a coffee mug carrying the slogan I love the smell of newsprint in the morning (a souvenir from Washington’s Newseum). And, yes, it does sit beside another mug that is testament to my age – Grumpy Old Man. However, my reasoning goes beyond a sentimental attachment to the medium in which I spent a large proportion of my now-surprisingly-lengthy working life.

I believe a digital-only strategy at this point could well spell the end of the New Zealand Herald as an influential news source. The revenue fall would leave it unable to maintain the current newsrooms. So I only hope that incoming NZME directors are smart enough to leave a digital-only strategy in the ‘pending’ file.

NZME relies on its print publications for a significant proportion of its revenue and, although it is declining, it continues to far outstrip what is generated by its digital services. Continue reading “No printed Herald? Let’s hope the speculation is wrong” →

Canadian billionaire must explain his designs on NZME…now

New Zealand-based Canadian billionaire James Grenon owes the people of this country an immediate explanation of his intentions regarding media conglomerate NZME. This cannot wait until a shareholders’ meeting at the end of April.

Is his investment in the owner of the New Zealand Herald and NewstalkZB nothing more than a money-making venture to realise the value of its real estate marketing subsidiary? Has he no more interest than putting his share of the proceeds from spinning off OneRoof into a concealed safe in his $15 million Takapuna mansion?

Or does he intent to leverage his 9.6 per cent holding and the support of other investors to take over the board (if not the company) in order to dictate the editorial direction of the country’s largest newspaper and its number one commercial radio station?

Mr Grenon has said little beyond the barest of announcements that have been released by the New Zealand Stock Exchange. While he must exercise care to avoid triggering statutory takeover obligations, he cannot simply treat NZME as another of the private equity projects that have made him very wealthy. He is dealing with an entity whose influence and obligations extend far beyond the crude world of finance.

While I do not presume for one moment that he reads this column each week, let me suspend disbelief for a moment and speak directly to him.

Come clean and tell the people of New Zealand what you are doing and, more importantly, why. Continue reading “Canadian billionaire must explain his designs on NZME…now” →

Brace yourself: This could be crunch year for NZ news media

Buckle up because 2025 is going to be a rough ride for news media.

It has started inauspiciously with NZME’s announcement of 38 job losses at the New Zealand Herald and NewstalkZB, the full impact of which has yet to be seen. That followed the closure of 11 of the company’s community newspapers at the end of last year, plus the loss of 11 roles in its regional newsrooms last July.

We began the year with the effects of TVNZ’s cuts, announced last November, starting to appear. Familiar faces on its sports team reappeared on Sky and Trackside over the summer break, and yesterday Breakfast was back with a reduced lineup but no reduction in forgettable chitchat. The state-owned broadcaster has lost almost 130 staff since 2023. The latest tranche took out 50 jobs and adverse effects on its newsgathering are inevitable.

In December Whakaata Māori cut 27 roles and ended its news programme. Jobs have also gone at Stuff, although musical chairs have made it difficult to determine exactly how many have gone. Earlier, of course, TV3’s American owners walked away from their responsibility to provide its own news service.

What more, you ask, could be lost when news services have been cut to the bone? The answer: A lot. Our commercial news media are in a worrying financial state. Continue reading “Brace yourself: This could be crunch year for NZ news media” →

An arid outlook for local media and local democracy

New Zealand is about to feel the widespread effect of one of the consequences of media climate change – news deserts.

NZME’s announcement last week that it is “proposing” to close 14 of its community newspapers – that is a nice way of saying it has already decided to do so – will leave gaping holes in local reporting. Journalists, whose sole task is to tell people what is happening in their small communities, will lose their jobs.

The story, reported with uncharacteristic frankness (about itself) by the New Zealand Herald, also mentioned that the announcement came on the heels of major cuts this year by TV3 and TVNZ.

There is, however, a significant difference. TV3 contracted Stuff to fill the hole it created by closing Newshub, and TVNZ has sufficient means to cover news and current affairs even if it does so in reduced form. Once the NZME community titles go, residents will be deprived of vital links to information.

The Herald’s Shayne Currie, made no bones about it. He described the closures as “a body blow to local news in many New Zealand regions”, adding: “In some regions, these titles are the only source of local news, covering their local councils and other public bodies.” Continue reading “An arid outlook for local media and local democracy” →