I had the privilege of serving for a number of years on the board of TVNZ. The company had a dual mandate over that period - first, as a state-owned enterprise, it had to turn a profit by competing with commercial rivals and selling advertising time, so as to pay an annual dividend of at least 9 per cent to the Government. But, at the same time, TVNZ was governed by a charter drawn up by the Labour government in 2003.
The charter meant that, while TVNZ would be called to account if it failed to produce a big enough dividend, it was also required to operate more or less as a public service broadcaster, a kind of south-seas BBC. The requirements included, amongst other things, recognising New Zealand's cultural diversity, promoting New Zealand-made content, and providing "independent, comprehensive, impartial, and in-depth coverage and analysis of news and current affairs".
Successive chief executives found this dual mandate somewhat confusing, but they recognised the importance of the charter's requirements; and, in strictly commercial terms, of course, the public service role had the advantage of providing TVNZ with a Unique Selling Point.
The board was always alert to ensure that we did not lose sight of our charter obligations - and I recall Rick Ellis, our very able and commercially-minded chief executive, assuring us that "the charter is in our DNA".
But the charter did not long survive a change of government. The new National Government quickly signalled its intention to consign the charter to the junk heap, on the grounds that it diverted TVNZ from its main function of maximising a dividend that helped the Government to shore up its own finances. The charter was duly scrapped in 2011.