Grenon closes on 50% support for NZME board spill

A group of investors is seeking board changes, but not a takeover as yet. (Image: NZME)

Fri, 07 Mar 2025

The expatriate Canadian billionaire seeking a board spill at NZME is claiming support closing on 50% of the share register. Jim Grenon told BusinessDesk Thursday night that “other shareholders who I understand speak for well more than 10% have also indicated tentative support” for his initiative.Grenon, who has built a 9.97% stake in NZME that was revealed this week, is nominating four directors to replace the existing NZME board, with only one of the current governance team to be invited to stay on.Share price jumpAn instituti...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

World

CEOs break silence on Trump trade war

Business leaders have avoided voicing concerns, but some are getting vocal.

The Wall Street Journal 9:30am

The Quiz Free

QuiznessDesk, Wednesday, April 09

Can you beat the Quizmaster?

The Quizmaster 9:15am

Markets

'Don't change your approach as markets move'

Two fund managers explain how they're working through the tariff turmoil.

Rebecca Stevenson 5:00am

'Don't change your approach as markets move'

Sponsored

Go beyond reporting zero emissions

Clean energy that helps businesses and communities thrive

Meridian Energy

Sponsored

New life in property market

Tax rule changes are bringing back mum-and-dad investors.

Fletcher Living

More Markets

Property

Radius Care forecasts second-half earnings up 23%

A strong final quarter has helped Radius Care increase its earnings by 23% in the second half.The aged care specialist announced operating results for the financial year ended March 31 in a trading update on Wednesday. Subject to audit completion, underlying earnings before inter...

Staff reporters 9:27am