June 3, 2025 • 7 mins
Canadian billionaire Jim Grenon and former Finance Minister, Steven Joyce, have won positions on integrated media company NZME's board.
Board positions were voted on today in a shareholder meeting - where current chair Barbara Chapman stepped down.
Joyce is set to chair, and he says he's got an eye on the company's future.
"It's about not necessarily slavishly following social media - it's striking your own path."
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Episode Transcript
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Speaker 1 (00:09):
You're listening to a podcast from News Talks be follow
this and our wide range of podcasts now on iHeartRadio.
Speaker 2 (00:16):
Now.
Speaker 3 (00:17):
The battle over Enzidny's governance is over for now. At
a meeting today, Stephen Joyce was voted in as the
new chair and public critic Jim Grennan was also appointed
a new director. Steven is with us now, How.
Speaker 2 (00:27):
Stephen, Hello, how are you, Heather?
Speaker 3 (00:29):
I'm very well, Thank you. Congrats. You've got a big
task ahead of you, having you.
Speaker 2 (00:34):
Well. I mean, you know, I've done a few big
tasks over the years, but it's certainly a bit involved. Yeah.
Speaker 3 (00:40):
I wasn't saying you're not up to it. I mean,
if anybody is, you know, the business. But is it
sobering to look at the state of the economy and
how it's affecting the media at the minute?
Speaker 2 (00:50):
Well, I think it's the same for every business actually,
but I think the media overall is coming out of
it relatively well. I know that it's a tough year
last year, but I think a lot of the sort
of structural issues are in the process of being addressed.
People now know what the future looks like to some degree,
(01:10):
and then it's really all about taking advantage of the
opportunities that are out there.
Speaker 3 (01:14):
What does the future look like, Well.
Speaker 2 (01:17):
I think it's a common its primarily digital. It's a
combination of as we saw today with the type of
stuff and trade. Me it's a combination of media and
what they call verticals or classified and it's about not
(01:37):
necessarily slavishly following social media's striking your own path.
Speaker 3 (01:43):
So do you think, just judging by what you said
then sounds would you agree that it sounds like One
Roof stays with nz ME.
Speaker 2 (01:51):
Well, I don't think anybody was suggesting that One Roof
would be completely separated from ZEM. I'm sure there'll be
one of the options to be looked at. The suggestion
from some shaholders that I spoke to was that it'd
effectively be listed separately and retains some common ownership. To
are to effectively reveal the true value of One Roof
(02:13):
now where that's the thing to do right now, whether
that's the thing to do in the future, or whether
we're at it all, those are all discussions out of us.
Do you know Jim Grennan, Yes, well I do now. Yes,
I met him for the first time. Actually I met
him a couple of years ago when he was looking
at stuff, and then I met him again prior at
Christmas when his group approached me to potentially be one
(02:36):
of their director platform and I turned them down at
that point, and then I've met him a number of
times more recently.
Speaker 3 (02:41):
And what do you make of him?
Speaker 2 (02:43):
I think he actually really interesting guy. He's very passionate
about the media. He's a significant investor, obviously quite a
wealthy person, and I actually think he could be a
very positive influence on the board.
Speaker 3 (03:00):
Do you think that all of the stuff that's paid out,
played out publicly has been bad for the company.
Speaker 2 (03:07):
Well, I think it's certainly been challenging for the company
in terms of having all that happening, But I think, well,
I'm hopeful that the new board has got fresh pairs
of eyes and it's a pretty good skill set and
it can take the company forward from here. So in
that sense, it's good. And I think every now and
(03:30):
then it's good to have it's good to have a
change and a shakeup, and that's of course what's happened
out of this. But I think it's also important for
the shareholders and the board to come together and provide
a steady platform for the company to grow from. And
so when I agreed to put my name for it,
I thought, well, there's an opportunity here to actually steady
(03:50):
the ship down, get it on a sensible platform, and
get it firing forward.
Speaker 3 (03:54):
How much are you prepared to get involved with decisions,
you know, in terms of whether you think a strategy
is a good strategy or not.
Speaker 2 (04:01):
Well, the board has a role in testing the strategy
and providing challenge to management. That's an important part of
the gig, and that's their job actually, beyond also hiring
the CEE if if, if that's required. So yeah, we
will be involved in that basis. But do I want
to run the actual company? No, I don't, and I
(04:23):
don't believe Jim Granan does either. But it is about
assisting the management of sending a good team and providing good,
positive challenge to what they're proposing.
Speaker 3 (04:33):
You weren't suggesting just before that it might be required,
were you? What were hiring a new ce.
Speaker 2 (04:40):
Oh well no, I'm just just like, I'm just saying
that that's the job of board, just hypothetically.
Speaker 3 (04:48):
It was a hypothetic.
Speaker 2 (04:51):
So if Michael ever retired, which I'm sure I'll do
one day in the distant future. Then obviously our job
would be to hire a place.
Speaker 3 (04:57):
Yeah, I mean the video strategy.
Speaker 2 (05:02):
Thoughts, not nothing much at this point ex episode that
I have had a look at it myself, and as
a consumer, I was quite impressed with it.
Speaker 3 (05:10):
Okay, the editorial board, how does it work?
Speaker 2 (05:14):
I don't know the answer that question yet. The one
of the early questions for Michael and the team will
be how are they thinking about doing it, and what
have they learned from various options overseas and how do
they think it would add value? And then, like I
said before, we'll provide some challenge and some positive challenge
to that and endorse it if it's the right way forward.
Speaker 3 (05:36):
What did you make of trade me? But it's totally
changing the subject here, Steven, apologies, But what do you
make of trade me buying stuff into stuff?
Speaker 2 (05:43):
At least buying into stuff? Yeah? Look, well, firstly, I
thought it was reasonably obvious moves, and obviously they've been
flagged for a while as well. I think it makes sense.
I mean, if you cast your mind back to the
newspaper days, where the front half of the paper are
basically broad on the eyeballs, and then the back half
of the paper made the money. And that's a sort
(06:05):
of similar tie up that you're seeing in that vertical
classified space alongside alongside the eyeballs provided. And that's really
what one Roof's doing so well is generating a lot
of content. It's it's appearing on the Herald website, which
has a lot of eyeballs, and effectively it's it's driving
(06:25):
people who are interested in buying and selling houses to
the website. So it's not surprising to me that the
trade me and stuff will try and copy that, particularly
as that's where they came from back in the day.
Speaker 3 (06:35):
Yeah, totally, very good point. Now, does this mean that
we're going to see you a lot in the office
and you're going to have to be dragged away from
your garden?
Speaker 2 (06:43):
Oh? Possibly, possibly daily. No, I will be there regularly,
and it will drag me away from my garden. But
I'm pleased to report that every spare five minutes I
get hither. I'm working on my garden at the moment,
I'm coaxing my collieflower to produce good heads of collifler.
Speaker 3 (07:00):
How many have you got there?
Speaker 2 (07:02):
I've got about a dozen, three of them are looking
really good, some of them looking a bit weedy.
Speaker 3 (07:08):
A question, because it just seems like a hell of
a lot of effort to go to for what like
maybe two dozen meals.
Speaker 2 (07:17):
That's just the cauliflower. Then you had the broccoli, then
you had the cabbages.
Speaker 3 (07:21):
You feed yourself for a year.
Speaker 2 (07:23):
Brussels sprouts, well, no, but I'll get two or three.
I'll get two or three months of green. Certainly more
than the family will want to eat, that's for sure. Good.
Speaker 3 (07:30):
Well, listen when you're in the office, when they're sick
of your cauliflower or your broccoli, and you're in the
office and you think, geez, what am I going to
do with it? We'll take it.
Speaker 2 (07:39):
Well. One of your colleagues has already made a request
for my apple cucumbers that I used to hand around
the gallery.
Speaker 3 (07:44):
See journo is always looking for a freeba. They can't
help themselves. But also I'll have one of them. Thanks, Steven,
look after yourself. It's nice to have you with a
company that. Stephen Joyce the new chair of ends in Me,
which of course owns News Talk ZB and The Herald.
Speaker 1 (07:56):
For more from News Talks EDB, listen live on air
or online, and keep our shows with you wherever you
go with our podcasts on iHeartRadio
You're listening to a podcast from News Talks be follow
this and our wide range of podcasts now on iHeartRadio.
Speaker 2 (00:16):
Now.
Speaker 3 (00:17):
The battle over Enzidny's governance is over for now. At
a meeting today, Stephen Joyce was voted in as the
new chair and public critic Jim Grennan was also appointed
a new director. Steven is with us now, How.
Speaker 2 (00:27):
Stephen, Hello, how are you, Heather?
Speaker 3 (00:29):
I'm very well, Thank you. Congrats. You've got a big
task ahead of you, having you.
Speaker 2 (00:34):
Well. I mean, you know, I've done a few big
tasks over the years, but it's certainly a bit involved. Yeah.
Speaker 3 (00:40):
I wasn't saying you're not up to it. I mean,
if anybody is, you know, the business. But is it
sobering to look at the state of the economy and
how it's affecting the media at the minute?
Speaker 2 (00:50):
Well, I think it's the same for every business actually,
but I think the media overall is coming out of
it relatively well. I know that it's a tough year
last year, but I think a lot of the sort
of structural issues are in the process of being addressed.
People now know what the future looks like to some degree,
(01:10):
and then it's really all about taking advantage of the
opportunities that are out there.
Speaker 3 (01:14):
What does the future look like, Well.
Speaker 2 (01:17):
I think it's a common its primarily digital. It's a
combination of as we saw today with the type of
stuff and trade. Me it's a combination of media and
what they call verticals or classified and it's about not
(01:37):
necessarily slavishly following social media's striking your own path.
Speaker 3 (01:43):
So do you think, just judging by what you said
then sounds would you agree that it sounds like One
Roof stays with nz ME.
Speaker 2 (01:51):
Well, I don't think anybody was suggesting that One Roof
would be completely separated from ZEM. I'm sure there'll be
one of the options to be looked at. The suggestion
from some shaholders that I spoke to was that it'd
effectively be listed separately and retains some common ownership. To
are to effectively reveal the true value of One Roof
(02:13):
now where that's the thing to do right now, whether
that's the thing to do in the future, or whether
we're at it all, those are all discussions out of us.
Do you know Jim Grennan, Yes, well I do now. Yes,
I met him for the first time. Actually I met
him a couple of years ago when he was looking
at stuff, and then I met him again prior at
Christmas when his group approached me to potentially be one
(02:36):
of their director platform and I turned them down at
that point, and then I've met him a number of
times more recently.
Speaker 3 (02:41):
And what do you make of him?
Speaker 2 (02:43):
I think he actually really interesting guy. He's very passionate
about the media. He's a significant investor, obviously quite a
wealthy person, and I actually think he could be a
very positive influence on the board.
Speaker 3 (03:00):
Do you think that all of the stuff that's paid out,
played out publicly has been bad for the company.
Speaker 2 (03:07):
Well, I think it's certainly been challenging for the company
in terms of having all that happening, But I think, well,
I'm hopeful that the new board has got fresh pairs
of eyes and it's a pretty good skill set and
it can take the company forward from here. So in
that sense, it's good. And I think every now and
(03:30):
then it's good to have it's good to have a
change and a shakeup, and that's of course what's happened
out of this. But I think it's also important for
the shareholders and the board to come together and provide
a steady platform for the company to grow from. And
so when I agreed to put my name for it,
I thought, well, there's an opportunity here to actually steady
(03:50):
the ship down, get it on a sensible platform, and
get it firing forward.
Speaker 3 (03:54):
How much are you prepared to get involved with decisions,
you know, in terms of whether you think a strategy
is a good strategy or not.
Speaker 2 (04:01):
Well, the board has a role in testing the strategy
and providing challenge to management. That's an important part of
the gig, and that's their job actually, beyond also hiring
the CEE if if, if that's required. So yeah, we
will be involved in that basis. But do I want
to run the actual company? No, I don't, and I
(04:23):
don't believe Jim Granan does either. But it is about
assisting the management of sending a good team and providing good,
positive challenge to what they're proposing.
Speaker 3 (04:33):
You weren't suggesting just before that it might be required,
were you? What were hiring a new ce.
Speaker 2 (04:40):
Oh well no, I'm just just like, I'm just saying
that that's the job of board, just hypothetically.
Speaker 3 (04:48):
It was a hypothetic.
Speaker 2 (04:51):
So if Michael ever retired, which I'm sure I'll do
one day in the distant future. Then obviously our job
would be to hire a place.
Speaker 3 (04:57):
Yeah, I mean the video strategy.
Speaker 2 (05:02):
Thoughts, not nothing much at this point ex episode that
I have had a look at it myself, and as
a consumer, I was quite impressed with it.
Speaker 3 (05:10):
Okay, the editorial board, how does it work?
Speaker 2 (05:14):
I don't know the answer that question yet. The one
of the early questions for Michael and the team will
be how are they thinking about doing it, and what
have they learned from various options overseas and how do
they think it would add value? And then, like I
said before, we'll provide some challenge and some positive challenge
to that and endorse it if it's the right way forward.
Speaker 3 (05:36):
What did you make of trade me? But it's totally
changing the subject here, Steven, apologies, But what do you
make of trade me buying stuff into stuff?
Speaker 2 (05:43):
At least buying into stuff? Yeah? Look, well, firstly, I
thought it was reasonably obvious moves, and obviously they've been
flagged for a while as well. I think it makes sense.
I mean, if you cast your mind back to the
newspaper days, where the front half of the paper are
basically broad on the eyeballs, and then the back half
of the paper made the money. And that's a sort
(06:05):
of similar tie up that you're seeing in that vertical
classified space alongside alongside the eyeballs provided. And that's really
what one Roof's doing so well is generating a lot
of content. It's it's appearing on the Herald website, which
has a lot of eyeballs, and effectively it's it's driving
(06:25):
people who are interested in buying and selling houses to
the website. So it's not surprising to me that the
trade me and stuff will try and copy that, particularly
as that's where they came from back in the day.
Speaker 3 (06:35):
Yeah, totally, very good point. Now, does this mean that
we're going to see you a lot in the office
and you're going to have to be dragged away from
your garden?
Speaker 2 (06:43):
Oh? Possibly, possibly daily. No, I will be there regularly,
and it will drag me away from my garden. But
I'm pleased to report that every spare five minutes I
get hither. I'm working on my garden at the moment,
I'm coaxing my collieflower to produce good heads of collifler.
Speaker 3 (07:00):
How many have you got there?
Speaker 2 (07:02):
I've got about a dozen, three of them are looking
really good, some of them looking a bit weedy.
Speaker 3 (07:08):
A question, because it just seems like a hell of
a lot of effort to go to for what like
maybe two dozen meals.
Speaker 2 (07:17):
That's just the cauliflower. Then you had the broccoli, then
you had the cabbages.
Speaker 3 (07:21):
You feed yourself for a year.
Speaker 2 (07:23):
Brussels sprouts, well, no, but I'll get two or three.
I'll get two or three months of green. Certainly more
than the family will want to eat, that's for sure. Good.
Speaker 3 (07:30):
Well, listen when you're in the office, when they're sick
of your cauliflower or your broccoli, and you're in the
office and you think, geez, what am I going to
do with it? We'll take it.
Speaker 2 (07:39):
Well. One of your colleagues has already made a request
for my apple cucumbers that I used to hand around
the gallery.
Speaker 3 (07:44):
See journo is always looking for a freeba. They can't
help themselves. But also I'll have one of them. Thanks, Steven,
look after yourself. It's nice to have you with a
company that. Stephen Joyce the new chair of ends in Me,
which of course owns News Talk ZB and The Herald.
Speaker 1 (07:56):
For more from News Talks EDB, listen live on air
or online, and keep our shows with you wherever you
go with our podcasts on iHeartRadio
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