Auckland-based Canadian billionaire Jim Grenon, holding nearly 10% of legacy media company NZME, is spearheading a boardroom shake-up by seeking to replace most directors with himself and three others.
Grenon claims to have support from major shareholders controlling about 37% of NZME’s shares, though their commitment remains uncertain.
NZME is the owner of legacy media outlets NZ Herald and Newstalk ZB.
The deadline for board nominations is March 11, with a vote set for April 29. Grenon, owner of private equity firm TOM Group.
Meanwhile, San Francisco-based Osmium Partners, a 6.5% shareholder, has also nominated two candidates for the board but has not disclosed any ties to Grenon.
What does this mean?
The deck chairs are being moved around while the Titanic continues to sink…
The issue legacy media has is there is hardly any people sitting on those deck chairs.
Olympic
https://www.bitchute.com/video/jvZPD7s1ZdMp
It means one kind of bias will be replaced by another kind of bias. If the different biases become very much more different than before, then the media landscape in NZ might inch a fraction toward genuine media independence, but who knows? I wouldn’t hold my breath.
There’s no intention yet to improve editorial integrity so I’ll expect their bullmanure to continue.
It is a paradox to expect free inquisitive journalism form any corporate structure.
We’ll see.
The word wide globalist agenda is being driven through corporate structure. That’s our enemy, corporations, and governments are corporations.
NZME is finished.
Unsurprisingly indoctrinated woke morons playing at social engineering win stupid prizes.
Go woke go broke.
Again.
The MSM is already dead and buried.
This Canadian ‘Billionaire’ bloke is clearly hellbent on throwing good money after bad.
Oh well.
In other words, woke ars*holes masquerading as journalists go bankrupt due to lack of audience.
Oh dear, how sad, never mind.
There can’t be too many people interested in the tedious trite uninformed opinions of indoctrinated woke lefty cretins.
Mr Grenon should probably reconsider.
There may be hope for the herald.
They sold out to lBOR AND WERE STILL STUPID ENOUGH TO CONTINUE TILL NOW. LETS HOPE HE CAN MAKE IT A CREDIBLE PAPER AGAIN .
LETS HOPE STUFF IS SOLD NEXT SO WE CAN GET THEM BEING MORE RESPONSIBLE./ CREDIBLE
RiP NZ FERALD
Even if legacy media changes their name, employees new staff, we will still know who they are and what they have done. When trust and faith has gone, it will not come back.
I would never spend my advertising dollars in legacy media.
No one watches tv news anymore. They might as well not even exist. We have moved on and they need to move on too. Maybe they could paint houses or fix holes in the roads, repair pipes .