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

Inspiring women recognised in 2017 Honours

31 Dec 2016 News
31 December 2016Some of New Zealand’s most inspiring women have been recognised in the 2017 New Year’s Honours list... more

New Zealand educators congratulated on NY Honours

31 Dec 2016 Education
31.12.16Education Minister Hekia Parata and Tertiary Education, Skills and Employment Minister Paul Goldsmith have congratulated the... more

Business

Solid growth for NZ despite fragile world economy

26 Dec 2016 Business News
The New Zealand economy continued to grow solidly in the September quarter, posting a higher than expected 1.1 per cent growth rate... more

WTO decision important for NZ beef and horticulture into Indonesia

23 Dec 2016 Business News
23 December 2016 Trade Minister Todd McClay today welcomed the World Trade Organization's (WTO) decision upholding New Zealand's... more

Living

3rd Position, Louis Vuitton America’s Cup World Series

21 Nov 2016 Lifestyle
Emirates Team New Zealand EMIRATES TEAM NEW ZEALAND CLOSES IN 3rd POSITION THE LOUIS VUITTON AMERICA’S CUP WORLD SERIES more

Arts Foundation Award recipients for 2016

14 Nov 2016 Lifestyle
The Arts Foundation Next generation of internationally acclaimed talent among the Arts Foundation Award recipients for 2016Under ... more

Property

NZ house prices gain 11% in October

14 Nov 2016 Property
Article - BusinessDesk Monday 14 November 2016 10:28 AM NZ house prices gain 11% in October, driven by sales of higher value homes By... more

RBNZ sees pressures building in Auckland construction sector

11 Nov 2016 Property By Paul McBeth
Article - BusinessDesk Thursday 10 November 2016 04:04 PM RBNZ sees pressures building in Auckland construction sector By Paul ... more

Migration

Good progress on investment attraction strategy

8 Dec 2016 Migration
Economic Development Minister Steven Joyce has welcomed news that New Zealand is attracting a higher level of quality international... more

Changes to Financial Markets Conduct Act impact UK pension transfers

1 Nov 2016 Migration
New Zealand Government Hon Paul GoldsmithMinister of Commerce and Consumer Affairs 1 November 2016 Changes to Financial Markets... more

Travel

Work on $700m Puhoi road underway

8 Dec 2016 Travel & Tourism
Hon. Simon Bridges 8 December, 2016 Prime Minister John Key and Transport Minister Simon Bridges have turned the sod on th... more

Air NZ teams up Ronan Keating, Julian Dennison for Christmas song

2 Dec 2016 Travel & Tourism
Air New Zealand has paired up with singer Ronan Keating and rising Kiwi actor Julian Dennison to rejig a Christmas classic. 'Summer... more

Sport

Broom to the rescue

31 Dec 2016 Cricket
29 Dec, 2016 In ShortA composed maiden ODI century from the recalled Neil Broom and an unrelenting bowling performance on a tough... more

Rugby World Cup 2019 marks 1,000 days to go ahead of big year of milestones

26 Dec 2016 Rugby
World Rugby and the Japan Rugby 2019 organising committee have been looking ahead to an important year of preparation as Rugby World... more

Columns

Gordon Campbell on the Gareth Morgan crusade

11 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the Gareth Morgan crusade First published on Werewolf more

Gordon Campbell on the US election outcome

10 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the US election outcome more

Kiwi Success

High Commissioner to India announced

8 Dec 2016 Appointments
Hon. Murray McCully 7 December, 2016 High Commissioner to India announced Foreign Minister Murray McCully today... more

Acting District Court Judge appointed

11 Nov 2016 Appointments
New Zealand Government Hon Christopher FinlaysonAttorney-General 11 November 2016 Acting District Court Judge appointed Wellington... more

Recruitment

NZ Government accepts recommendations on pay equity

8 Dec 2016 Recruitment
Hon. Paula Bennett,  Hon. Michael Woodhouse, Hon. Louise Upston 24 November, 2016 The Government will update the Equa... more

Fisher Funds hunts for new head to replace founder

2 Nov 2016 Recruitment
Article - BusinessDesk Tuesday 01 November 2016 04:42 PM Fisher Funds hunts for new head to replace founder Carmel Fisher By Paul ... more

s