TVNZ’s $85 million loss proves why they need to be sold

TVNZ has recently reported that they have lost over $85 million during the 2023/24 fiscal year. This comes off the back of huge executive bonuses, program cancellations and falling trust ratings.

Commenting on these announcements, Taxpayers’ Union Communications Officer, Alex Emes, said:

“TVNZ’s abysmal $85 million loss, falling program quality and failure to return a dividend in 9 of the last 12 years demonstrate why the Government needs to cut their losses and sell the failing broadcaster.

“TVNZ has an unfair advantage over private media by being propped up by the public, and they need to start playing on an equal playing field. A private company would never hand their CEO hundreds of thousands in bonuses to go along with a million-dollar salary for such terrible results.

“In a time when New Zealanders are facing record rents and struggling to put food on the table, the Government needs to prioritise Kiwi families’ wallets over those of millionaire execs. It’s time to cut the cord and sell it off while they still can.”