MediaWorks reports $9.7m loss

(Image: NZME)

Fri, 13 Oct 2023

Radio and outdoor advertising business MediaWorks has revealed a massive $110 million impairment following a net loss of almost $10m for its most recent financial year.The company’s financial statements for 2022 were finally released on Friday and provide one of the starkest illustrations yet of the challenges facing New Zealand’s media industry.Mediaworks is putting a brave face on the numbers, citing a number of operational improvements and green shoots. It says 2023 has also been challenging, but there are “encouraging...

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