Sponsored by

Discovery NZ slumps to $34m loss in 2021

Daniel Dunkley
Thu, 30 Jun 2022

Discovery NZ slumps to $34m loss in 2021
The Newshub Live at 6 studio. (Image: Getty)
Daniel Dunkley
Thu, 30 Jun 2022
Discovery New Zealand Limited, the owner of Three and Newshub, fell to a $34 million loss in 2021, according to newly-filed accounts.The broadcaster, part of US giant Warner Bros. Discovery, recorded the heavy loss after racking up a larger wage bill and paying an $8.2m service fee to its parent company, the accounts show. Discovery NZ made a $10.2m profit in 2020.The media group earned $141.4m in revenue in the year to Dec 31 2021, up from $129m in 2021. But a $13m increase in employee remuneration and benefits, and the multimillion-dollar pay...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE
A2 shares plunge over FDA formula deferral
Staff reporters | Wed, 10 Aug 2022

A2 shares dropped 11% to $5.01 in early morning trading opened but made up a bit of lost ground by the end of the day.

Tourism needs to 'embrace' job-sharing to spur recovery – report
Brent Melville | Wed, 10 Aug 2022

An industry that lost more than a third of its workforce during the pandemic needs to start thinking differently about work sharing.

Primary Sector
A2 Milk gets shot down because of issues in application
Rebecca Howard | Wed, 10 Aug 2022

The FDA continues to work around the clock to address current supply challenges, including reviewing a number of requests from manufacturers for enforcement discretion, as quickly as possible, a spokesperson said. 

A clearer path to the cloud

Step-by-step cloud transition can bring benefits, experts say.

Energy of the future: Why we need innovation

The Tomorrow’s Energy Today conference is looking at ways to develop a clean, affordable and reliable energy future, says Brendan Winitana, chair of the Sustainable Energy Association New Zealand (SEANZ).