MediaWorks CEO Impey steps down after 10 years

MediaWorks CEO Brent Impey steps down after decade in role, won’t be replaced

Nov. 24 (BusinessWire) - Brent Impey has resigned as chief executive of MediaWorks NZ Ltd., the media company owned by buyout firm Ironbridge Capital, after leading the company for nearly ten years. He won’t be replaced.

The company named Sussan Turner as CEO of MediaWorks Radio and is searching for someone to head MediaWorks TV, rather than have an overarch executive. Both new CEOs will answer direct to the board.

“Although we won’t be appointing a group CEO, the streamlined structure of the business means we will have a smooth transition to CEOs for the respective TV and radio businesses,” chairman Brent Harman said in a statement.

Ironbridge paid $741m to acquire the MediaWorks assets from CanWest MediaWorks NZ Ltd., in May 2007. Canada’s CanWest originally entered the New Zealand media market in 1991, when it bought a small stake in the then privately owned television network TV3.

During the 1990's, CanWest took full ownership of TV3, launched C4, and expanded into radio with the acquisition of the More FM Group and eventually RadioWorks.

Impey was appointed as CEO of More FM Group in 1998, and in 2000 took on his current role leading the MediaWorks operations. He will stay on in an advisory capacity until early 2011.

“This will allow for consistency and a smooth transition for the business,” he said.

(BusinessWire)