MediaWorks to buy more NZ shows as CBS rights expire   1 Jun 2012

Paul McBeth

MediaWorks NZ, the private-equity owned broadcaster, plans to spend more on local television programmes as it winds down its deal with CBS Broadcasting and stops taking new shows from the most-watched network in the US.

The Auckland-based media company, whose stable includes TV channels TV3 and Four, and radio stations including the Rock, MoreFM, won't renew its output deal with CBS for new shows when it expires at the end of the year. Instead, it will use cash to buy local programmes as its existing CBS line-up, such as CSI and America's Next Top Model, come to their use- by date.

"TV3 over the last five to 10 years has put more emphasis on local content," and some of the broadcaster's most popular shows, such as Outrageous Fortune, have been New Zealand made, spokeswoman Rachel Lorimer told BusinessDesk.

The shift will be a gradual one as TV3's existing stable of CBS shows are taken off air, but it won't save the broadcaster any money, as locally produced programmes are expensive, she said.

In the 2010 financial year MediaWorks spent $82.2 million on programming and production with programme rights commitments totalling $264.1 million as at Aug. 31 that year, according to the latest financial statements lodged with the Companies Office.

Some $63 million of those programme commitments were within one year, $184.6 million between one and five years, and the remaining $16.5 million committed beyond five years.

MediaWorks had $9.2 million in US dollar-denominated foreign payables in the 2010 year, using a hedge policy of between 75 percent and 100 percent of expected cash flows.

Lorimer said the broadcaster will probably keep its current mix of in-house productions and externally produced shows.

"There's no particular plan to beef up what we do in-house," she said. "Independent producers are incredibly important to us."

Over the past three years, New Zealand On Air provided almost $54 million in funding for shows broadcast on TV3 or Four. Of that, in-house TV3 productions attracted just $5.7 million. Over the same period, state-owned Television New Zealand produced programmes attracted $16.4 million in NZ On Air funding.

That funding doesn't include brand-funded shows such as TV3's upcoming series, The Block NZ, which is being produced by Eyeworks.

(BusinessDesk)

Add a comment

Bookmark and Share

News

Indigenous Experts arrive in Auckland

24 Nov 2014 News
Nga Pae o te Maramatanga (NPM), New Zealand's Maori Centre of Research Excellence, is this week (25th – 28th November) holding... more

New faces, wise heads in bold Labour line up

24 Nov 2014 Politics
New Zealand Labour PartyLabour Leader Andrew Little today announced a bold new caucus line up which brings forward new talent and... more

Business

Extreme commute: From New Zealand to rural Iceland

18 Nov 2014 Business News
Every year, several dozen butchers make an epic commute - from provincial New Zealand to rural Iceland - for just two months' work.... more

A2 Milk to seek ASX listing, push into US market

18 Nov 2014 Business News
Article - BusinessDesk   A2 Milk to seek ASX listing, push into US market, renew sales into China By Fiona Rotherham Nov. 18 ... more

Living

Hawaiian Voyagers Return to Reaffirm their Link with Maori

17 Nov 2014 Lifestyle
WAITANGI, New Zealand – When intrepid Hokulea crewmembers first sailed to Aotearoa (New Zealand) 29 years ago using the ... more

Sir Edmund Hillary Scholarship team in Round the Bridges

14 Nov 2014 Lifestyle
A University of Waikato Sir Edmund Hillary Scholarship team is set to compete in this Sunday’s Round the Bridges. The team of... more

Property

More homes coming on board for Christchurch tenants

18 Nov 2014 Property
Social Housing Minister Paula Bennett is impressed with Housing New Zealand’s progress in building, redeveloping and repairing... more

New initiatives to improve tenancy services

17 Nov 2014 Property
Changes to the delivery of key tenancy services are set to streamline and speed up processes for landlords and tenants, Building and... more

Migration

NZ net migration rises to record in Oct as more kiwis return

24 Nov 2014 Migration By Suze Metherell
  NZ net migration rises to fresh record in Oct as more kiwis return, Indian students arrive Nov. 24 (BusinessDesk) - New... more

Australians & New Zealanders should be free to live & work in UK

3 Nov 2014 Migration
Australians and New Zealanders should be granted special status to live and work in the United Kingdom without restriction, a new... more

Travel

NZ guest nights jump to a record in September on rise in international travelers

12 Nov 2014 Travel & Tourism By Tina Morrison
Nov. 12 (BusinessDesk) - New Zealand guest nights rose 1.1 percent to a record for a September month, driven by a rebound in ... more

Travel to NZ made easier for Indian business visitors

7 Nov 2014 Travel & Tourism
Associate Tourism Minister Paula Bennett and Immigration Minister Michael Woodhouse say Indian nationals travelling to New Zealand... more

Sport

Lydia Ko gets record LPGA haul - and a US$1.5m payday!

24 Nov 2014 Golf
NAPLES, Fla. -- New Zealand teenager Lydia Ko was an instant millionaire even before she went into a three-way playoff Sunday in the... more

Valerie Adams named World Athlete of the Year

23 Nov 2014 Sport
New Zealand shot put star Valerie Adams has been named the World Athlete of the Year in Monaco this morning. Adams is the first Kiwi... more

Columns

Gordon Campbell on Rick Ellis as Te Papa’s new CEO

24 Nov 2014 Opinion By Gordon Campbell
The recent appointment of former TVNZ boss Rick Ellis to head Te Papa has copped a fair bit of criticism... more

Gordon Campbell on the SAS role against Islamic State, and Podemos

20 Nov 2014 Opinion By Gordon Campbell
  Could this news report serve to explain – in a nutshell – why Prime Minister John Key has not ruled out the SAS... more

Kiwi Success

New Ambassador to the Philippines announced

18 Nov 2014 Appointments
Foreign Minister Murray McCully has announced diplomat David Strachan as New Zealand’s new Ambassador to the... more

New High Commissioner to Malaysia

18 Nov 2014 Appointments
Foreign Minister Murray McCully has today named diplomat John Subritzky as New Zealand’s new High Commissioner to Malaysia, to... more

Recruitment

Smiths City starts CEO search after Hellings signals exit

12 Nov 2014 Recruitment
Article - BusinessDesk   Smiths City starts search for new CEO after Hellings signals exit By Paul McBeth Nov. 12 (BusinessDesk)... more

More than 600 take up 3K to Christchurch jobs

28 Oct 2014 Recruitment
Social Development Minister Anne Tolley says the Government’s 3K to Christchurch scheme is a winner with 633 unemployed people... more