New Zealand’s biggest commercial TV channel on the block

New Zealand’s MediaWorks put the country’s largest commercial television station up for sale on Friday after sustaining losses for years in an increasingly fragmented media landscape.
The media conglomerate said it intended to sell its Auckland-based Three TV channel, although reports said it could simply be shut if a buyer was not found by year’s end.
“We are in a commercial environment and have to face commercial realities,” chairman Jack Matthews said.
“The market that free-to-air television operates in is tough and has been exacerbated this year.” He said MediaWorks intended to concentrate on its radio network and QMS outdoor advertising business, which specialises in billboards.
MediaWorks posted a NZ$5.5 million ($3.5 million) loss in the 2018 financial year and the company hopes offloading Three would help turn around its fortunes.