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

 

Crowdfinding: Awaroa Beach To Become Public Land If Appeal Succeeds

Conservation Minister Maggie Barry says a privately-owned beach will become part of the Abel Tasman National Park if an online crowdfunding campaign to buy it succeeds... More>>

ALSO:

Meat Workers Union: Waitangi Mondayisation Flaunted By Large Employer Of Maori

At the AFFCO Talley owned meat plant in Rangiuru, the company has resorted to bullying and threats... saying they could be disciplined and their union sued for an unlawful strike if workers exercise their rights to a paid day off tomorrow. More>>

Earlier:

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news