TVNZ needs to treble in size to compete with global giants - CEO

Thu, 29 Aug 2019

By Paul McBeth Aug. 29 (BusinessDesk) - Television New Zealand will need to be three times the size it is now if it's to fend off the likes of global online media giants Disney and Netflix, says chief executive Kevin Kenrick. The state-owned broadcaster has built up a war-chest in recent years - it had $50.3 million in the bank as at Dec. 31 - and will ramp up spending on local content and its online capabilities. The board agreed with the shareholder to stop paying modest dividends and will instead direct its steady earnings to fund tha...

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