Canadian billionaire, Auckland resident Jim Grenon has decided to wade into the New Zealand media landscape by buying a stake in NZ's largest media organisation, the NZME group, owners of the New Zealand Herald newspaper. The NZ Herald is akin to the New York Times, or the Los Angeles Times, and often referred to as Aunty Herald. It had the tone of that aunty you remember always telling you off for everything, and who used to grab you by the ear and told you to listen to her while she did so - tell you off that is. Its tone now though reminds of the know-it-all second year law student out to save the planet.
With his stake, Mr Grenon has started a campaign to remove the current board, and to replace it with himself and other nominations supportive of him. Good luck to him.
He needs 50%+1 to remove the board, and such an event is long overdue. Thing is, Mr Grenon had better be careful and ensure his accounting for tax is in order, as the NZ Herald has connections that run deep. The government considers the NZ Herald its personal propaganda mouthpiece, you see, and they don't take kindly to those trying to unseat the established power structure.
What is that power structure? That certain elites, mostly living in Auckland are always right and get to make all the decisions and sit on all the boards. They are aligned with the two political parties, Labour and National, and these two factions share power by rotating governance between them.
The NZ Herald is a woke, liberal left-wing, handwringing sad excuse for a publication. It is kept this way so that those power structures are never challenged. Yeah, the elites don't believe any of the nonsense published each day, they're not stupid.
https://www.stuff.co.nz/business/360601099/who-james-grenon-billionaire-who-spent-9m-stake-nzme
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