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Stick to the facts Minister tells Opposition

18 September 2001 Media Statement

Stick to the facts Minister tells Opposition


Broadcasting Minister Marian Hobbs says National's broadcasting spokesperson Katherine Rich betrays her ignorance in her claims about TVNZ's annual results for the 2001 financial year.

"She ignores the facts as disclosed in the annual report.

" TVNZ's financial position remains strong. The deterioriation in financial performance was primarily due to a weaker television advertising market and the decline in the value of the New Zealand dollar, which has increased the cost of overseas programmes.

"The profit result also reflected the steady financial performance by Broadcast Communications Ltd, TVNZ Australia, TVNZ Satellite Services and its outside broadcast services.

"Ms Rich should note the comments of TVNZ Chief Executive, Rick Ellis, who said that TVNZ's results compared very favourably with other television companies, both here and internationally, who had experienced similar contractions in revenue and increased programming costs," Marian Hobbs said.

ENDS

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