New Zealand sale announcement highlights TV’s struggles
New Zealand broadcaster MediaWorks has announced it plans to sell its struggling television business, leaving hundreds of workers wondering if they will still have jobs if a buyer can’t be found. The move also raises the possibility the country could be left with just a single state-owned broadcaster to report most television news. The announcement…
New Zealand broadcaster MediaWorks has presented it plans to promote its struggling television industry, leaving hundreds of staff questioning in the event that they’ll smooth possess jobs if a buyer can’t be found.
The transfer additionally raises the likelihood the nation will most doubtless be left with accurate a single voice-owned broadcaster to document most television news.
The announcement Friday highlights the combat that old television networks possess been going by towards the upward push in recognition of streaming products and companies a lot like Netflix.
MediaWorks Chairman Jack Matthews says the firm wants to assemble bigger radio and billboard businesses whereas recognizing that free-to-air television “operates in a sturdy ambiance.”
Matthews says the community’s Auckland headquarters is additionally for sale, with a hire-abet option for ability traders.
MediaWorks is owned by Los Angeles-essentially based private equity firm Oaktree Capital Management.
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