Ian Fraser Resigns

Sunday 30 October 2005

For immediate release

The Chairman of TVNZ, Mr Craig Boyce, announced today that TVNZ has accepted, with regret, the resignation of CEO, Ian Fraser.

“I would like to thank Ian for his considerable efforts over nearly 4 years, during a time of significant challenge and change which saw the establishment of TVNZ as a Crown Owned company, the introduction of the TVNZ Charter and the development of a strategy to take TVNZ into the future as New Zealand’s Public Broadcaster while operating in a commercially successful manner.

“With his extensive background in broadcasting, Ian brought a unique set of skills to the job. His ability to articulate his vision and to manage change within the company has helped provide the foundation for TVNZ’s future.

“His considerable knowledge of public service broadcasting values and the commercial facets of the business, has helped the company go from strength to strength achieving not only significant public service product on air but also record revenues year on year”.

Mr Boyce said there will be continuing discussions with Mr Fraser over the next few days leading to an announcement on a departure date and a process of orderly transition to a new Chief Executive.

“I accept his resignation with considerable regret but I respect his wishes in this matter and will be making no further comment on it,” Mr Boyce said.

“Our immediate priority must be on implementing our strategy for the future of TVNZ which Mr Fraser has had such a large part in developing, and the Board has every confidence in the ability of senior management and staff to deliver”.

About TVNZ

TVNZ is New Zealand’s largest, free to air broadcaster and the nation’s television public service broadcaster, operating two channels, TV ONE and TV2.

86% of New Zealanders watch TVNZ each week. TVNZ has 68.5% share of the total free to air market and a 58% share of the total television market.*

Approximately 90% of our revenue comes from commercial sources - the biggest being advertising revenue. 10% of our revenue comes from public sources** including direct Charter Specific Government funding.

To find out more about us log onto www.corporate.tvnz.co.nz

* In peak time over the last 12 months. Viewers 5+
** includes direct New Zealand on Air funding and Te Mangai Paho

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