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Learning Media To Be Wound Up

Learning Media To Be Wound Up

The Board of Learning Media has agreed with the Government that the company does not have a viable on-going business. Accordingly the company is to be wound down through a managed process. Projects currently underway will be delivered as scheduled and transition arrangements put in place for longer-term work programmes to ensure continuity.

Learning Media chair Jenn Bestwick says the significant contribution Learning Media has made to New Zealand's education sector over many years is recognised by both the Government and Ministry of Education. A key priority as the company winds down is ensuring that the valuable skills and capability of Learning Media’s staff are able to be retained within the sector.

Ms Bestwick says the company has operated in challenging market conditions. Declining revenues in traditional publishing have undermined the company's profitability and despite strategies to diversify into digital publishing and to develop products for other sectors and markets, the company has not been able to maintain a viable business. The Board is now in agreement with Cabinet that there is no realistic possibility of the company improving its financial position.

"While it is disappointing that the company will no longer exist, it is heartening to know that the excellent work produced by the company, such as The School Journal, will continue to be provided to schools."

Learning Media and the Ministry have commenced discussion about ways in which the valued expertise within the company can continue to benefit the sector.

Learning Media was created in 1939, when the School Publications Branch in the Department of Education was formed. It became a Crown Company in 1993 and a State Owned Enterprise in 2005. The company creates digital and print educational resources such as The School Journal and Te Wharekura and also provides professional development for teachers. The company employs 109 FTE staff, including editors, designers, project managers and software programmers.

Ends

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