According to the NZ Herald, TV Three’s latest financial result shows the Warner Brothers Discovery NZ owned broadcaster has made a full year $77.6 million after-tax loss and a redundancy bill of almost $15 million has been announced. That is not the only loss that Discovery NZ has made with TV3.
Surprisingly it seems that Warner Brothers Discovery is not requiring Sky to take on its debt, which Fairfax must have required Ms Boucher to do in 2020 when it sold Stuff to her, also for $1. It must be assumed that there is enough cash at the bank to pay its debt.
It all shows the state of the Legacy Media, particularly those which persist in promoting Far Left propaganda — unless they receive subsidies from the likes of the US Democrats’ government propagandist USAid (which the Trump administration has put a stop to), Google, Microsoft and/or George Soros associated NGOs for that.
We can’t see TV3 making a profit under Sky TV, which as we observed last year is very badly managed and not worth paying for. Anyone who wants their pay content can get most of it free with the Kodi app and a Virtual Private Network (VPN) such as Nord.
So what is TVNZ worth now — also nothing? We said in this post in February that the time to sell it was then while it was still worth something — has that ship sailed?
I think instead of the question “Has that ship SAILED, it should be Has that ship SUNK but nobody has noticed yet.