DTNZ: Canadian billionaire takes major stake in legacy media company NZME

Auckland-based Canadian billionaire James Grenon has acquired a 9.3% stake in NZME, the owner of legacy media outlets the New Zealand Herald, Newstalk ZB and BusinessDesk, fuelling speculation about potential shifts in editorial direction.

Grenon, the founder of Tom Capital Management, was previously linked to alternative news ventures The Centrist and NZNE (New Zealand News Essentials).

While Grenon insists his NZME investment is purely financial, reports suggest some wealthy investors may be considering a larger stake or even privatisation.

Daily Telegraph New Zealand (DTNZ) is an independent news website, first published in October 2021. - where this article was sourced.