Mediaworks a titanic are the violins playing yet ??

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JaseNZ

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#195717 1-May-2016 12:26

I don't watch TV3 but I have been interested in following the slow demise of this business. With so many high profile people leaving and now with Hilary Barry leaving for what looks like a breakfast show for TV1 this sure has to be a kick in the nuts for them.

To make things look even more inept the head of Media work Mark Weldon has sent out a tweet wishing her well but in spelling her name wrong it looked very amateurish.

Do you think this company is on the way to folding ?? , Perhaps they need to be shaking up top management to try and save the ship.

Just my opinion but would be interested to see how people perceive Mediaworks.

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#1544801 1-May-2016 12:30

They are owned by an investment company so probably doing a dick smith before moving it on to some new suckers to have it finally fall apart totally under the new owners.

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#1544815 1-May-2016 12:33

To begin with, MediaWorks is one word - not two.

Second, if you're reading or watching coverage on the 'happenings' at MediaWorks, you're most likely seeing the opposition taking pot-shots at their competitors. NZ Herald = competition. TVNZ = competition. NZME radio = competition.

Re: the company folding...

It has been on the cards for, what... 7 years now?

Once they were sold pre-GFK the owners were stuffed, literally leveraged out the waazoo.

However they have lobbied, twisted and fought a fight to the point that they still exist.

I believe costs have been cut even further, people (staff in particular) don't like change, let alone the prospect of losing their jobs. However, for the company to exist they have done what they needed to do.

As a bit of perspective.

IHeartRadio is over 20 billion (USD) in debt.

MediaWorks are nowhere near the brink in comparrison.

Technofreak

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#1544837 1-May-2016 12:57

Aren't they making an announcement in a day or so? Rumour is they are about to announce a tie up with an American network.

On a slightly different note. I had to smile at a report on the Herald site. http://www.nzherald.co.nz/entertainment/news/article.cfm?c_id=1501119&objectid=11631112 . It mentions the current owners of Mediaworks were a Vulture Fund, Oaktree Capital. I'm sure they meant "Venture Capital".

In the light of the DSE saga perhaps it was a good way to describe the Anchorage Capital the private equity owners of DSE prior to the IPO.

Before anyone jumps in, I don't see Venture Capital companies as being anything like private equity outfits like Anchorage.

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#1544867 1-May-2016 13:39

NZME have a strange habit of publishing 'news' articles that attack Mediaworks product, while at the same time promoting The Bachelor. I guess maybe The Bachelor is providing a bit of gossip to fill in time on their CHR radio station.

Objectively, though, I think Mediaworks is in trouble and this article provides some very good analysis:

http://thespinoff.co.nz/30-04-2016/why-hilary-barrys-resignation-is-different/

TV3 has always struggled commercially - people with short memories seem to have forgotten that they went into receivership shortly after launching in 1989. The receivership that occurred more recently was widely regarded as more of a technical receivership relating to capital structure rather than underlying business factors, but it's hard to see how this company can achieve profitability. Younger viewers are moving increasingly towards online content which leaves traditional linear television broadcasting in the domain of more conservative viewers - the same viewers who are loyal to state television because they have watched it for decades and can't bear the thought of changing the channel. Yes, Newshub has a strong online presence but media companies are still struggling to figure out how to monetise these types of services.

Radio looks like it is still reasonably profitable, but it can't be carved out from the rest of the business now that they have an integrated newsroom.

This big announcement that everyone is talking about will be really interesting. I saw a rumour floating around a few weeks ago suggesting that Fairfax may be interested in buying Mediaworks. That would really shake up the industry, and probably not in a good way.

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#1544938 1-May-2016 17:32

I don't think they even want news on the channel, at least not the way it's currently presented.

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#1544948 1-May-2016 17:49

Technofreak:

Aren't they making an announcement in a day or so? Rumour is they are about to announce a tie up with an American network.

On a slightly different note. I had to smile at a report on the Herald site. http://www.nzherald.co.nz/entertainment/news/article.cfm?c_id=1501119&objectid=11631112 . It mentions the current owners of Mediaworks were a Vulture Fund, Oaktree Capital. I'm sure they meant "Venture Capital".

Why do you think the NZ herald article is incorrect?

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Geektastic

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#1544983 1-May-2016 19:30

I'm still wondering why a tv person resigning from employment to work somewhere else is news...

MikeB4

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#1545012 1-May-2016 20:27

Geektastic: I'm still wondering why a tv person resigning from employment to work somewhere else is news...

It's self promotion and TV folk trying to give the impression they matter. As for TV3 I can't remember the last time I watched it.

Here is a crazy notion, lets give peace a chance.

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#1545137 2-May-2016 08:48

I saw a report at the weekend that FOUR is going to be replaced by a Bravo reality TV channel. Looks like the end is near..

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#1545139 2-May-2016 08:54

old3eyes:

I saw a report at the weekend that FOUR is going to be replaced my a Bravo reality TV channel. Looks like the end is near..

Depends, I would find it very convenient if TV3 put all their reality programming on one channel for me to ignore, leaving the main TV3 station for (hopefully) some better shows.

In practice, these days I seldom watch live TV, its either Tivoed or Netflixed/Lightboxed.

old3eyes

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#1545150 2-May-2016 09:13

BlueShift:

old3eyes:

I saw a report at the weekend that FOUR is going to be replaced my a Bravo reality TV channel. Looks like the end is near..

Depends, I would find it very convenient if TV3 put all their reality programming on one channel for me to ignore, leaving the main TV3 station for (hopefully) some better shows.

In practice, these days I seldom watch live TV, its either Tivoed or Netflixed/Lightboxed.

I suspect that won't happen. They'll load up both channels with reality TV.

Regards,

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#1545188 2-May-2016 09:43

Mspec:

To make things look even more inept the head of Media work Mark Weldon has sent out a tweet wishing her well but in spelling her name wrong it looked very amateurish.

Just to get the importance of this in context - a "typo" or "spelling mistake" (Hillary instead of Hilary - or have I got that the wrong way around?) by a CEO was newsworthy.

It might have been if accompanied by a photograph of Hilary in tears, inconsolably distressed by the magnitude of what had happened - but I truly doubt she cared.

Instead, I read - reported in the NZ Herald - that a certain David Farrier - had leaped to the conclusion (and tweeted) that the typo was indicative of a certain "attitude" by Weldon.

Good grief. Kirsty Johnston & The NZ Herald should be flayed for bothering to write and print such "non-news", and David Farrier could perhaps use some life/career coaching about publicly criticising a CEO who may be useful to him in future. Of course the CEO should not be beyond criticism, but if they need to be nailed, then nail them for the big stuff - not trivia.

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#1545200 2-May-2016 09:59

old3eyes:

I saw a report at the weekend that FOUR is going to be replaced by a Bravo reality TV channel. Looks like the end is near..

Rumor, I work for Freeview when I am not with Dish and we received a message saying they read that FOUR Plus 1, Edge TV and Prime are moving frequency this year on satellite. little did they know this happened in 2013-2014.

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ojo

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#1545206 2-May-2016 10:16

Geektastic: I'm still wondering why a tv person resigning from employment to work somewhere else is news...

Because it's of interest to people who watch TV.

MikeB4

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#1545249 2-May-2016 11:03

to echo that words of the late Ronnie Corbett and Ronnie Barker with TV3 it will soon be a permanent "its good night from me and goodnight from him"

Here is a crazy notion, lets give peace a chance.

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