You might remember last year when it was revealed that the government had given Mediaworks a deferred payment scheme for $43.3m worth of broadcasting licences.
Mediaworks have now announced that they have paid for the licence fees, almost two years early.
MediaWorks’ subsidiary RadioWorks has repaid the $32.28 million outstanding on a “loan” signed off by former Communications Minister Steven Joyce that allowed the media group to defer payments to the Crown for radio spectrum licences.
The balance of $32.28m of principal plus interest was paid on Wednesday – almost two years ahead of schedule, current minister Amy Adams said in a statement.
That payment was on top of two earlier payments of $11.9m which would suggest the taxpayer has netted an additional $12.78m in interest for some simple flexibility.