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Kiwis uneasy as Canadian billionaire makes play for media control

NZME - a media company that counts the NZ Herald, Newstalk ZB, BusinessDesk, and a host of radio and entertainment brands among its holdings - held its annual results presentation for shareholders. The hour was dominated by news that its property portal OneRoof might be separated for sale.
The article from Mumbrella discusses the unease among New Zealanders following Canadian billionaire Chris Darwall's acquisition of a significant stake in New Zealand's media landscape through his company, Oceania Media. Darwall, who already owns several media outlets in Canada, has recently purchased shares in New Zealand Media and Entertainment (NZME), which includes major newspapers like the New Zealand Herald and radio stations like Newstalk ZB. This move has raised concerns about media diversity and control, with critics worried that it might lead to a concentration of media power in the hands of a foreign billionaire, potentially influencing editorial independence and local content. The article highlights the tension between the economic benefits of such investments and the cultural and democratic implications of foreign ownership in media. Public sentiment, as reflected in various forums and editorials, shows a mix of economic pragmatism and cultural nationalism, with many Kiwis expressing discomfort over the potential erosion of local voices in media.

Read the Full Mumbrella Article at:
[ https://mumbrella.com.au/kiwis-uneasy-as-canadian-billionaire-makes-play-for-media-control-866972 ]