It is understood the Government has found a replacement and that Media and Communications Minister Paul Goldsmith will make an announcement soon. The new chair is believed to have a considerable commercial CV.
Carruthers, who was appointed chair for three years from July 2023, has overseen TVNZ through one of its most tumultuous periods in which it axed popular shows such as Sunday and Fair Go, reduced staff numbers and launched a new five-year digital strategy.
His pending departure comes after the company posted a turnaround profit for its full financial year to June 30 and delivered a dividend back to the Government for the first time in three years.
With that also came warnings from the broadcaster that it was likely to fall back into operational losses in the next two years, as it moves through the next phase of its digital transformation.
Carruthers was appointed TVNZ chair until June 30, 2026, by the previous Labour Government’s Broadcasting Minister, Willie Jackson, but the Treasury document released to the NZ Herald said he was leaving early.
The document, an aide memoire to Goldsmith, was written in June and reveals that Treasury was already on the hunt for a new chair at that time – less than two years into Carruthers’ tenure.
“A targeted search is under way to appoint a new chair following the current chair’s early retirement in October 2025, and nominations are being sought from your caucus colleagues,” says the paper, which was prepared for Goldsmith ahead of a meeting with Carruthers and TVNZ chief executive Jodi O’Donnell.
“We will send you a list of candidates in July 2025 to consider for interview.”
Carruthers did not return calls last night but said in a text message: “I am sorry, but I am not going to comment. This is a matter for the minister. There are good things to say about my time at TVNZ and they are covered in our annual report, which will be tabled in parliament very soon.”
Quizzed further on whether he would be leaving in October – as stated in the Treasury document – he said that timeframe was incorrect, but he referred the Herald to the minister.
It is understood the appointment process has been completed for a new chair, and Goldsmith’s office is preparing to announce a replacement and timeframe shortly.
Political tensions
There have been questions about whether Carruthers had the full support of the National-NZ First-Act coalition Government, especially with TVNZ and RNZ facing intense scrutiny on several fronts.
Nevertheless, his early departure will come as a surprise to many within and outside TVNZ.
Goldsmith has been overhauling the boards of both TVNZ and RNZ over the past 12 months.
He appointed former Sky TV chief executive John Fellet to the TVNZ board in September last year and top broadcaster Paul Henry in July this year.
He also renewed existing board member John Quirk’s tenure in July, but two other directors, Linda Clark and Meg Matthews, left.
The Government has been clear that it wants TVNZ – which is funded through advertising revenue, not taxpayer funding – to start returning dividends to the public coffers.
It has also wanted TVNZ to build its trust levels. In various surveys, the company has always been at or near the top of the most trusted news organisations, but the Government has wanted improvements.
Both NZ First and Act have made no secret of their displeasure about various aspects of the public broadcasters’ newsgathering and broadcasting efforts.
Both broadcasters, in turn, have defended themselves from any accusations of bias. TVNZ this week released a summary of an independent review that stated there was “no evidence of systemic bias or lack of impartiality in 1News’ reporting”, but it is so far declining to release the full review.
The Act party has been publishing a regular social media series titled David vs the Media, featuring party leader David Seymour.
One of the party’s social media staff filmed a sometimes awkward interview between Seymour and TVNZ chief correspondent John Campbell earlier this year. It has so far accumulated 104,000 views on YouTube.
Campbell pondered whether his interview was being “weaponised”; Act said it was holding media to account and giving viewers the full picture. TVNZ also ran the full exchange and interview on TVNZ+.
Carruthers’ background
Wellington-raised Carruthers is no stranger to the C-suite. He has been the boss of two law firms – including Chapman Tripp for more than 10 years – and set up the Homeland restaurant and food business with his partner, chef Peter Gordon, in 2020. Homeland closed its doors in 2024.
Carruthers stepped down from his role as NZ Film Commission chairman in May last year amid concerns of a perceived conflict of interest between that role and his TVNZ duties.
He is widely respected in the arts and screen sectors, and there was no suggestion of a personal conflict. Concerns had been raised, however, about him holding two major media industry roles, especially as discussions over funding and industry structural issues became more pointed.
Carruthers is also a former chair of the Arts Council.
TVNZ’s financial turnaround
In a very short period, and with O’Donnell at the helm as chief executive since early last year, Carruthers has overseen a financial turnaround at TVNZ.
Last month, TVNZ announced a $25.7 million net profit after tax for its 2024-25 financial year, and a dividend to taxpayers for the first time in three years.
The turnaround, from an $85m net loss after tax in the previous 12 months, follows major cost-cutting across the organisation, including roles at every level and the loss of shows such as Sunday and Fair Go.
The final reported net profit after tax of $25.7m included net positive, non-cash impairment adjustments.
On an adjusted basis, the net profit after tax was $10.7m – at the top end of its earlier guidance – compared with a net adjusted loss of $22.9m in the previous 12 months.
TVNZ also confirmed a dividend of $3.1m for its full financial year, to June 30, 2025. It is the first time since 2022 that the state broadcaster has paid a dividend.
Who will be the new chair?
Quirk and Fellet would be strong contenders to be the new TVNZ chair – but it is understood the successful candidate will come from outside the current directors.
The person is believed to also have considerable commercial experience.
The TVNZ board and new appointment are likely to have been the cause of considerable debate and discussion within the Government.
The Traitors Australia moving in?
Are we about to witness double trouble in the South Island mansion that has hosted the first two seasons of The Traitors NZ?
Production is set to get under way for the third season – and Auckland-based production firm South Pacific Pictures now has the rights to the Australian version of the cut-throat reality TV game show.
It is understood production of The Traitors Australia will dovetail – either before or after – the New Zealand version is produced.
It’s all very cloak and dagger, with both Australia’s Channel 10 and SPP declining to comment yesterday.
The Traitors NZ was revived for its third season after NZ on Air agreed to $1.47 million in taxpayer funding – a significant shift in thinking from the funding agency, in that in recent years it has not gone anywhere near commercially successful reality TV shows, which draw hundreds of thousands of viewers.
But with advertising revenue falling away in a sluggish economy – and huge digital disruption under way in the TV and production sector – the networks have told NZ on Air that shows such as The Traitors and Celebrity Treasure Island would have been ditched without public help.
One of the biggest questions for The Traitors NZ is who will host. The host for the first two seasons, Paul Henry, has pulled out of the Three show – he is now a board member of TVNZ.
Meanwhile, the New Zealand Film Commission is refusing to say whether The Traitors Australia has been registered for the 20% international screen production rebate.
Screen Canterbury was a lot more forthcoming.
“We understand that The Traitors Australia is expected to film in Canterbury (Timaru); however, no application has been received for the Screen CanterburyNZ Production Grant in relation to this production,” said a Screen CanterburyNZ spokesman.
“We do not currently have confirmed details regarding its shoot dates.”
Grenon acquires more NZME shares
NZME director Jim Grenon has acquired another one million NZME shares, according to a new NZX notice, and is moving closer to becoming the company’s biggest shareholder.
The businessman now has 34,694,802 shares of the media business – owner of the NZ Herald – representing a holding of just under 18.5%.
He acquired the latest parcel of one million shares for a total $1.1m on Wednesday, according to an NZX notice yesterday.
The moves further cement Grenon’s position as a substantial shareholder of NZME, sitting just behind the company’s biggest investor, Australian investment fund Spheria Asset Management Ltd, which owns 19% of the company.
Grenon led a charge this year for a board refresh of the company that also owns Newstalk ZB, One Roof and a suite of entertainment radio stations.
The latest acquisition of shares follows several similar moves in recent weeks.
A notice to the NZX on Monday, September 15, stated Grenon had lifted his shareholding from 15.963% to 17.932%, after acquiring 3.7 million shares for $4.07 million.
Grenon did not wish to comment at that time.
In an NZX notice in March, he had stated there was no intention to make a takeover bid.
Under New Zealand law, individual shareholders can lift their stake to a maximum 20% before Takeovers Code provisions come into play.
NZME shares closed at $1.10 on Thursday.
Bowker’s Caniwi builds Sky TV investment
An outspoken former shareholder of media company NZME has moved more of his own company’s investment focus to Sky TV, which he believes is “significantly undervalued”.
“We are shareholders, although I’m not disclosing my interest other than it’s currently below the 5% disclosure threshold,” Caniwi Capital executive chairman Troy Bowker told Media Insider in an email.
“I am a buyer.”
Sky shares closed at $3.12 yesterday; Bowker believes the company shares are worth a “minimum” $4.50.
“We think it’s significantly undervalued. It has one of the highest dividend yields on NZX … my CEO Des Gittings meets with Sophie [Sky TV chief executive Sophie Moloney] and we have a very good understanding of the numbers. We think the dividend is sustainable and has capacity for growth.
“Unlike my investment in NZME, where I deliberately set out to change the board, I am not looking to remove the chair of Sky TV.
“I have a high regard for Philip [Sky TV chairman Philip Bowman] and meet with him regularly, and I enjoy his company.”
Bowker and Gittings will soon see a familiar face at Sky TV. NZME chief financial officer David Mackrell joins Sky in January as CFO.
Bowker sold out of NZME in May, which helped prominent shareholder Jim Grenon lift his stake at that time to 13% of the NZ Herald publisher. As reported above, Grenon has subsequently lifted his stake in NZME to just under 18.5%.
“I set out with two goals when investing in NZME,” Bowker told Media Insider back in May.
“One, to replace the chair and refresh the board. Two, to make a good return on my investment. I’ve achieved both.”
He believed Grenon would be a “major disruptor” to NZME as a director. “I think he is exactly what’s needed for NZME. A disruptor is what the business needs.”
He also thought that changes at NZME would cause “short- to medium-term pain to shareholders. I may well invest back into NZME at a much lower price later”.
Grenon said at the time that it was “always nice to set goals and achieve them”.
“So congrats to Troy. I will note Troy may well not be able to get back in at a lower price. I have talked to many of the significant shareholders, and they are long-term believers in a lot of upside.”
‘Chilling’: Ex-Herald editor on Media Council ruling
A former NZ Herald editor-in-chief has urged the Media Council to review a controversial ruling, in which it upheld a complaint about a newspaper’s coverage of an unsolved cold-case disappearance, and published information that was already in the public domain.
The Rotorua Daily Post story, published on the 50th anniversary of Mona Blades’ disappearance, was ruled by the council to be accurate and balanced, and there were no issues with the headline or captions.
But, by a majority of 6-4, the council ruled the article was unfair to a dead man and his family – a former police traffic officer who was accused by another officer, also now dead, of being involved in Blades’ disappearance.
These details, along with the accused officer’s family’s disgust, were already in the public domain.
Police investigated the theory that the officer was somehow involved in Blades’ disappearance – in 2012, they drilled into the laundry floor of a Kawerau house where he lived in the 1970s. But they came up with nothing.
The case remains unsolved, but open.
Former NZ Herald editor-in-chief Gavin Ellis said he was disturbed to read about the council’s ruling.
“The 50th anniversary of Mona Blades’ disappearance is a significant milestone and a legitimate reason to revisit the case. In doing so, it was also reasonable to revisit the various theories – disproven or otherwise – that it generated.
“The unsolved case (and that of Tracey Ann Patient) continue to be matters of public interest for the very reason that they remain open in the hope that they will be solved.
“The decision by the council has potentially far-reaching effects. It will make media think twice before publicly re-examining cold cases and even historical controversy. In reaching this decision, the council has created the sort of chilling effect that it should stand against.
“The decision should be reviewed.”
The Media Council has defended its ruling, but also says it will review the feedback it has received at its next meeting, “as it always does”.
“We are always happy to discuss concerns with the media,” said a statement provided by complaints director Katrina Reinsfield.
“It was the firm view of the majority that the complaint should be upheld on the basis that, in the particular circumstances, it was unfair that a flimsy and unsubstantiated theory of one man about the identity of the perpetrator of two different terrible murders was publicised 50 years on.
“It was significant that the person named in the story was never charged, even after an extensive police investigation, and that the police officer making the accusation had no involvement in the investigation. The person named was deceased and unable to respond, but his family are still very engaged.
“It was the naming of the man, not the article itself, that was the breach. The ruling is not saying the media can never name suspects or persons of interest.
“However, there must be a point where a theory is so unsubstantiated that it amounts to unfairness towards the person accused. This majority ruling reflects a view that this article crossed the line.”
Four council members issued a dissenting opinion, saying the ruling was “unfair” and sent a “worrying signal to newsrooms”.
And in an unusual move, the newspaper’s publisher, NZME, says it believes the council has made a “serious error” – and that the decision has “potentially far-reaching consequences to journalism in New Zealand and to the wider public we serve“.
“A division of view like this is not uncommon in the Media Council,” the council told Media Insider. “It is obliged to apply the Media Council principles, which are broad and which give rise to issues on which reasonable minds can differ.
“The Media Council will review the expressions of support and opposition relating to the decision at the next meeting, as it always does.”
TVNZ apologises for timing of ad
TVNZ has apologised for inadvertently screening an advertisement for an erectile dysfunction supplement during daytime hours.
“The content of the advertisement references sexual dysfunction in a manner that I consider grossly unsuitable for daytime broadcast, particularly on a Sunday when families and children are more likely to be watching TV together,” a complainant told the Advertising Standards Authority.
The ASA sought an explanation from both the advertiser, Caruso’s Natural Health, and the broadcaster, TVNZ.
“The advertiser’s investigation found that the advertisement was mistakenly aired at the incorrect time,” reported the ASA.
“They acknowledged the concern raised regarding the timing of the advertisement and its potential impact on family audiences.
“In response to the complaint, they advised that they are taking steps to ensure that all future broadcasts of this advertisement will be scheduled after 8pm local time in TV shows targeting an older, male audience only.”
TVNZ told the ASA that the Nut Job film – during which the advert aired – had been scheduled for a time consistent with the ad’s GXC rating. However, an error occurred when the film was moved in the schedule.
TVNZ apologised for the error and had put in place weekly reminders to check updated film content.
IAB Awards – Grand Award finalists
Congratulations to all the finalists for this year’s IAB Awards. Winners will be announced on November 20.
Grand Award finalists:
Digital Product or Service of the Year
Infinitum, One Giant Leap for CTV Measurement; Mime Analytics
Plug Media: NZ’s First Free Device Charging Network – “Redefining Media Through True Value Exchange”; Plug Media
Social Stream on TVNZ+; TVNZ
Council Member of the Year
Driving Retail Digital Growth; John Waltmann
Shaping Retail Media for Aotearoa, From Buzzword to Business Driver; Tina-Trenkner Meade
Emerging Talent
Ella’s Glass Slipper Strategy: Finding the Perfect Media Fit; Ella Johnston, Hemisphere
Maddy “Media Maven” Solomon; Maddison Solomon, MBM
Our North Star; Ester Monti, NZME
Putting the “+” in TVNZ; Henry Briggs, TVNZ
The Day We Realised Edie Was a Unicorn; Edie Porter, MetService
Service to the Industry
A Trailblazer in Digital Advertising and Industry Leadership; Kate Grigg
I Love My Job!; Zane Furtado
Media Publisher of the Year
Brave, Bold, and Best: Stuff’s Digital Success Story; Stuff Group
Old School to New: Rewriting the Industry Rule Book; Market Media
Rova: The Evolution of Digital Publishing in Aotearoa; MediaWorks
Setting the Pace for Digital; NZME
TVNZ Leading the Digital+ Future to 2030; TVNZ
Media Agency of the Year
Creating Positive Progress; Together
Drive Digital Growth and Influence in New Zealand’s Recovering Market; Hearts & Science
PHD Aotearoa: Intelligence Connected; PHD Media
The MBM Centre of Excellence: Intention, Innovation, Impact; MBM
Creative Agency of the Year
Change Is in Our DNA; FCB Aotearoa
Full Funnel, Full Noise; Thompson Spencer
How TVNZ Blacksand Transformed Aotearoa’s Digital Creative Landscape; TVNZ Blacksand
Editor-at-Large Shayne Currie is one of New Zealand’s most experienced senior journalists and media leaders. He has held executive and senior editorial roles at NZME, including Managing Editor, NZ Herald Editor and Herald on Sunday Editor, and has a small shareholding in NZME.
