Media Minister Paul Goldsmith has ruled out a taxpayer bailout after RNZ revealed an $11.8 million loss. Goldsmith called the mismanagement a “colossal mistake,” saying the broadcaster had failed to control spending despite reduced funding.
RNZ plans to cut 58 full-time jobs. Outgoing CEO Paul Thompson accepted responsibility, saying the broadcaster had relied on incorrect information. Board chairman Brent Impey called the situation “incomprehensible” and accepted joint responsibility. An independent review of RNZ’s finances was ordered.
Treasury asked for its own oversight of RNZ to be examined as part of the independent review. It confirmed that RNZ had supplied incorrect figures and that it had only learned of the true scale of the loss on 4 October.
Associate Finance Minister David Seymour questioned how the money had disappeared and how many people were involved, while confirming there was no evidence of criminal wrongdoing.
In April 2026, RNZ was named New Zealand’s most trusted news brand (57% of those surveyed), although it later faced accusations of political bias towards the Opportunity Party and the Greens during the election.
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