Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Hobbs destroys TVNZ

Katherine Rich National Broadcasting Spokesperson

18 September 2001

Hobbs destroys TVNZ

Today's announcement that TVNZ's net profit and dividend are down 30% on last year confirms National's concerns about the deterioration of TVNZ's financial position, National's Broadcasting spokesperson Katherine Rich said today.

"When Labour promised to reduce TVNZ's dividend obligations no one thought the dividend cut would be because of lower profits. A once vibrant business owned by all New Zealanders is slowly grinding to a halt.

"Today's figures show the last six months has been a total disaster for TVNZ with it making only a $5.5 million net profit compared to a $24.5 million net profit in the six months to December 2000.

"Even more concerning is the prognosis for next year and the trend over time. It's likely that the situation is going to get worse as advertising markets continue to be soft, programming costs remain high and the company prepares for the Charter with no new funding.

"Broadcasting Minister Marian Hobbs will try and distance herself from the demise of the TVNZ business but the reality is her fingerprints are all over this mess.

"She failed to win any new funding for the Charter, she spooked advertisers by talking about schedule changes, and her suggested advertising regulation did nothing to preserve the faith of advertisers in television.

"This Government's lack of commercial nous is becoming obvious for all to see with the shocking state it has allowed Air New Zealand to get into. TVNZ's future is now uncertain and that's just another example of how inept this Government is when it comes to doing business.

"Marian Hobbs has overseen one of the largest drops in SOE shareholder value New Zealand's seen. She must explain to all New Zealanders, the shareholders of TVNZ, why," Mrs Rich said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>


Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>


More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news