TVNZ delivering dividends 'at any cost', Labour says

Broadcasting spokesman Brendon Burns. Photo / Herald on Sunday

Television New Zealand's latest financial results are constructed around ensuring the Government gets a dividend at any cost, the Labour Party says.

Broadcasting spokesman Brendon Burns said TVNZ had focused its own reporting of results in the year to June 30 on the Government's dividend of $4.87 million, up from $1.47m the year before.

"While delivering any improved results in a tough recession has to be acknowledged, TVNZ did so after cutting more than 80 staff last year which carried into the latest results," he said.

TVNZ announced its results today, showing revenue was down by $14.1m while total operating costs were $342.4m, a reduction of 8.6 per cent on the previous year.

"Given those losses and the fact that more staff are being shed this financial year, when will the Government recognise that this is not a sustainable strategy?" Mr Burns asked.

"TVNZ is answering its master's call for dividends but Broadcasting Minister Jonathan Coleman is becoming an emperor with no clothes."

- NZPA