NZME backs Steven Joyce to rebuff Jim Grenon chair bid

NZME backs Steven Joyce to rebuff Jim Grenon chair bid
Steven Joyce made his personal fortune in private radio broadcasting before entering politics. (Image: NZME)
Pattrick Smellie
News publisher NZME has finally announced its plan either to see off or dilute the impact of a board takeover sought by its 9.97% shareholder, Jim Grenon.The proposal outlined in a statement to the NZX makes the resignation from the board of the current chair, Barbara Chapman, contingent on the election of John Key-era Cabinet minister Steven Joyce to the board.Investors seemed to like the announcement, with the NZME share price lifting 4.7% in morning trading on the NZX on May 6 to $1.11.The share price has been buoyed since August last year,...

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