TVNZ reorganisation cost $3.7 million
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A reorganisation at TVNZ cost $3.7 million, the state broadcaster’s annual report shows.
TVNZ listed expenses related to reorganisation at $3.
It also reveals 168 employees were earning more than $100,000 a year, with the top salary of more than $830,000 paid to chief executive Rick Ellis. .7m for the 2009 financial year which included more than 80 redundancies.1m were made against budgeted costs for the year which included savings from restructuring.
Savings of $13.1m after tax profit and declared a final dividend paid to the government of $1.
Yet TVNZ still made a $2.
Total revenue was $384.47m.9 per cent or $7.8m, which was 1.
Advertising revenue was $298.5m down on the previous year.1m or 5.4m, a $17.
TVNZ said the decline was less than other Australasian media companies suffered, buffered by gains made from screening the Beijing Olympics last August.4 per cent decline on the previous year.
It also said there were significant improvements in ratings and Freeview had taken off, with about 16 per cent of the market picking it up.
The report said TVNZ had increased its share of advertising by 2 per cent taking business off competitors.
There were three people on around $400,000, and six between $290,000 and $380,000.
A table showing what staff were paid showed top salary bands of one person each on over $830,000; $580,000; $500,000.
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