TVNZ committed to Igloo despite failing to meet subscription targets

Thu, 06 Mar 2014

By Suze Metherell March 6 (BusinessDesk) – State-owned broadcaster Television New Zealand is committed to Igloo, its joint venture with pay-TV operator Sky Network Television, despite writing down its stake and missing subscription targets. TVNZ chief executive Kevin Kenrick told Parliament’s commerce select committee the broadcaster anticipates it will be a longer wait of the Igloo joint venture to start making money, which was why the company wrote down the value of the investment last week. TVNZ had previously told the committee it expec...

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