Receivers Can Work Fast When They Want To

KordaMentha, the receivers for MediaWorks, could hand over control to a new firm by the end of next month, according to insiders.

The new company, which will run TV3 and half the country’s radio stations, is chaired by Rod McGeoch.

Source: NZ Herald

The Mediaworks receivership is an interesting one. The faster the creative destruction process works itself through the better of society is.

The potential tax liability left in the old company isn’t “tax dodging” like the ignorant have tried to claim. It’s complicated.

Private equity deals are complicated beasts, not suitable for 140 character quips. That they had to defer payment for spectrum is an interesting question. I doubt that the government is the best entity to manage spectrum. The upcoming spectrum auctions from the end of analog TV broadcasting (digital dividend auction for management rights) will probably be a dismal failure and not encourage competition in broadcasting or telecommunications at all.

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