Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


The future of New Zealand media even more unpredictable

The future of New Zealand media even more unpredictable

The near term future of New Zealand media companies has become more unpredictable in 2012, according to the latest New Zealand Media Ownership Report published by AUT’s Centre for Journalism Media and Democracy (JMAD). The ownership of New Zealand media in 2012 became even more tightly concentrated in the hands of private equity firms, financial institutions and media moguls.

The profits and share prices of news media companies have plummeted which has made them ideal takeover targets for financiers and private equity firms who are looking for revenue and restructuring deals. Interestingly enough, MediaWorks now has three major private equity owners instead of one,says reports author Merja Myllylahti.

Publishers of New Zealand's two major metropolitan dailies, Fairfax Media and APN, have the same major shareholder; investment house Allan Gray and this has led to speculation that the two media companies would merge their print operations, says the report.

There is currently huge shareholder pressure for companies to cut costs, rationalise their operations and sell assets. In a few years time, the structure of the New Zealand media market might look completely different.

For example, APN has already started sales of New Zealand media assets including its South Island newspapers and the company is looking for a buyer the New Zealand Herald. Fairfax has also started to sell down its core assets including its stake in TradeMe.”

JMAD also found that the trans-national ownership of New Zealand media companies has increased, an example being the takeover of ACP Magazines (publisher of Metro and North & South magazines) by German publishing giant Bauer Media Group.

The public media space has also shrunk further. The closure of TVNZ 7 and Stratos reduces content, diversity on free-to-air television. Advertiser-driven and pay subscriber television predominates advertising free television unavailable for New Zealand viewers, comments Wayne Hope, the director of JMAD.


Key events and trends concerning New Zealand media ownership in 2012

• Trans-national media corporations tighten control over New Zealand media companies.
• Financial institutions and private equity firms increase their New Zealand media holdings.
• Fairfax and APN: asset sales, job cuts, paywalls and tabloid formats.
• Traditional business models in New Zealand print media become less viable.
• Public broadcasting shrinks further after the closure of TVNZ 7 and Stratos.
• Sky TV’s spreading influence triggers Commerce Commission investigation.
• Journalism.org.nz: web based public interest journalism emerges
ends

JMAD_New_Zealand_Media_Ownership_2012.pdf

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news