TV One has an "exclusive" about Mediaworks

One News had an exclusive story tonight about a special deal that saw $43m loaned to TV3 owner Mediaworks. Sound familiar? That’s because it is.

One News ran the line again that Mediaworks had received a loan but as Steven Joyce clarified on the 9th of March, the $43m is a debt owed for broadcasting licenses. 

By using the term loan, it sounds as though Mediaworks have actually been given money. By all accounts, this is not the case, therefore making One News’ story misleading.

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About the author

Regan is one of the co-founders of Throng Media.
If they're on, I'm usually watching Game of Thrones, The Walking Dead, 24, Battlestar Galactica, The X Factor, Survivor, House of Cards, Mad Men and the NRL.
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  • Chris Philpott

    Also, didn’t the Herald already get blasted for running this same story a couple of months back? It seems like silly oneupmanship between the networks.

  • Bogues

    Mediawatch on Radio NZ also covered this story in last weekends episode. While technically it is a loan, like all loans it’s not like Mediaworks got the money, it was the govt (who were selling the twenty year radio frequency licenses).

    I didn’t see the One News item, but it sounds like the same beat-up job NZ Herald did a few weeks back.

  • Mic holder

    As I understand it, the story was a follow up to the Herald story from last week, but the new information was that the Government went aginst advice from their own officials that the loan was risky, that there wasn’t a strong case for it and that the Government would be acting like a bank.  It also revealed that the initial approach to the Government by other broadcasters (Radio Rhema) was refused, and only approved after the deal with Mediaworks was approved.  Also of note was that the head of Mediaworks lobbied the Prime Minister after initially being rebuffed by Minister Joyce, and that he did so at the TV3 telethon.  So, to  be fair, there was new information in this story, and no-one else had this.

  • regan

    @Mic Holder, I’m not disputing that there was any new information.  However, the reference to the new payment terms as effectively being a loan is a bit of a stretch.  

    A loan implies that money changed hands. If it didn’t then that’s where the story is misleading.  

  • wohucanglong

    Could this possibly be a reaction to the aggressive advertising that Mediaworks has shown on TV3 regarding the Japanese tsunami? If so, it seems a bit petty. How about TVNZ focus on doing a better job and not trying to throw mud at a competitor in the vain hope that if enough is thrown then something might stick.

  • Johnston

    Trouble is, mud has stuck in this case.

  • Armin Tamzarian

    It’s like every morning one of the young, underpaid producer walks over to the fax machine to collect all the media releases, takes them back to their desk and proceeds to eat them. Later in the day they take a shit and that’s what they show at 6 o’clock, and call it news.

    I’m still to figure out how they feel any pride in what they do for a job.

  • KS

    Personally I didn’t think that the story was portraying Mediaworks badly, I thought it was more aimed at making the government the bad one.