Why does billionaire Jim Grenon want to replace NZME's board?

A battle is underway for the future of one of New Zealand’s biggest media companies.

Auckland-based Canadian billionaire Jim Grenon has in the last fortnight emerged as one of the biggest shareholders in NZME – the owner of the NZ Herald, Newstalk ZB and many music radio stations.

And next month, he hopes to vote out the company’s current board members and install himself and three others at the company’s shareholder meeting.

It’s the latest bit of turmoil to hit the media sector in this country, with nearly every major company seeing upheaval to some degree over the last 12 months.

Today on The Front Page, we’re joined by Media Insider Shayne Currie to discuss what Grenon wants from NZME, and if the sector is any closer to stability.

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You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

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