Instead, a supposedly commercially driven TV network is going to be tacked together with a purportedly non-commercial radio network with some combined online properties to create something better as a whole than was previously the case in parts.
Given the lack of a compelling case, it would have been hard to understand the benefit of spending $327m of the taxpayer's hard-earned money at any time, let alone now. The new entity will have uncertain commercial imperatives and will potentially lead to further distortions and arguably unfair competition against private sector media outlets, who are already facing the most challenging times they have ever faced.
The Government would do a far better job by going back to first principles and trying to persuade others why this proposed merger is such a good idea, putting the interests of the public and media consumers at the core.
What we need in New Zealand is a healthy, vibrant, diverse and challenging set of media voices. This is all the more important given the background of rapidly declining trust in media and the deeply concerning emergence of fake news and disinformation that we saw during the Parliamentary protests and throughout the pandemic.
The Government needs to ask itself whether or not this kind of merger is going to improve that situation. Frankly, it's hard to see how.
Finally, this level of spend at this time given the huge challenges faced by private sector media in New Zealand seems tone deaf at best.
The Government should pause, regroup and get the public on board with what they are really trying to do. They could start by explaining how this would lead to a better media landscape than we have today and why the proposed changes are so urgent that we need to spend $327m in the next three years to get us there.
• Phil O'Reilly is the managing director of Iron Duke Partners, and a global business leader and advocate.