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Canadian private equity billionaire takes stake in NZME

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Auckland-based Canadian private equity billionaire has taken a more than 9.3 percent stake in media company NZME. Jim Grenon is the founder of Calgary-based TOM Capital. He has interests in the media publication, The Centrist, and its sister website NZNE.
Canadian private equity billionaire, Michael Wekerle, has acquired a significant stake in New Zealand Media and Entertainment (NZME), a major media company in New Zealand. This investment comes at a time when NZME, which owns several newspapers, radio stations, and digital platforms, is navigating through the challenges of the digital transformation in the media industry. Wekerle, known for his involvement in various high-profile investments, sees potential in NZME's diversified media assets and its strategic position in the market. His involvement is expected to bring not only financial backing but also strategic insights that could help NZME adapt and thrive in the evolving media landscape. This move has sparked interest and speculation about the future direction and potential restructuring of NZME to better compete in both local and global markets.

Read the Full rnz Article at:
[ https://www.msn.com/en-nz/news/other/canadian-private-equity-billionaire-takes-stake-in-nzme/ar-AA1A6HgS ]