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

 


Former NZX boss Mark Weldon appointed top job at MediaWorks

Former NZX boss Mark Weldon appointed top job at MediaWorks

By Suze Metherell

Aug. 5 (BusinessDesk) - Former NZX chief Mark Weldon has been appointed to the top job at free-to-air broadcaster MediaWorks, replacing Sussan Turner.

Weldon will take up the group chief executive position on Aug. 11 after Turner announced her resignation last month, MediaWorks said in a statement. Weldon will take charge of the broadcaster, whose stable includes TV3 and Four channels and radio stations Rock, MoreFM and RadioLIVE, as it enters a new phase after its lenders tipped the company receivership last June to rein in what had become an unmanageable level of debt.

"I have followed the business with interest and for me this was a quick decision," Weldon said. "There is a talented and commercial board in place and I am completely aligned with them on the mission and opportunity."

Weldon left the NZX in 2011 after a decade in charge of the stock market, and has since been running a central Otago winery, Terra Sancta, owned by he and his wife.

The media group's lenders completed their recapitalisation of MediaWorks in November, which reduced the company’s debt levels to about $100 million from more than $700 million beforehand. The transaction put a value of $285 million on MediaWorks, according to the Overseas Investment Office’s August approval of the deal.

The restructure also installed a new board, chaired by Australian businessman Rod McGeoch. Former Eyeworks Touchdown boss Julie Christie, best known in New Zealand for a string of reality TV series, ex-PBL director Martin Dalgleish and former Lion Nathan chief financial officer and McKinsey & Co consultant Paul Lockey join him on the MediaWorks’ board.

"We have an executive team in place that has the media experience we need," McGeoch said. "The group CEO appointment will complement existing skills, focusing on a strategy to offensively pursue growth."

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news