MediaWorks
| Sector | Consumer and Retail |
|---|---|
| Industry | Integrated Media |
| Location | New Zealand |
| Investment Date | June 2007 |
Company Description
MediaWorks is a leading New Zealand media company operating three divisions:
- TV: Free-to-Air (“FTA”) television broadcaster operating two channels, TV3 (25-54) and FOUR (18-49).
- Radio: has a network of 10 unique branded formats broadcasting across New Zealand with a market share of greater than 50%.
- Interactive: is the new media division that leverages the strong news, sport and entertainment content from TV and Radio to generate online advertising and sponsorship revenue over 18 branded web sites.
Investment Rationale
Major attractions of the opportunity were:
- TV3 had a successful track record of gaining share from the Government owned competitor TVNZ.
- Development of C4 from a niche youth channel to a high quality full service FTA second channel offering as Four.
- Radio had clear organic and acquisitive growth opportunities to build further share in certain demographics in the key Auckland market.
- Development of the Interactive division to capitalise on increased online advertising spend over the branded web sites.
Ironbridge Value Added
The value added by Ironbridge has been as follows:
- Worked closely with the senior management team in tough market conditions.
- Supported management in increased focus and investment into the Interactive business.
