There’s been some rubbish talked in the blogosphere about Mediaworks and their deferred license payments. Not much of it measures up to the idiocy exposed in a press release from the watermelon’s Sue Kedgely. I’ll leave out the nonsense about double standards, TV One and Radio New Zealand. Kedgely is a standard and common type of communist who believes she can take money from those who earned it because enough people voted for her to do that. She never worries about testing her actions against moral values. The idiocy lies in these statements-
This story shows just how cash-strapped the private equity company which owns TV3, and half our commercial radio stations, is. And how vulnerable broadcasters become when they are reliant on finance from private equity companies, and the likes of Goldman Sachs and the Royal Bank of Scotland. The incident also highlights why we need at least one publicly owned television channel in New Zealand –a channel that is not owned by overseas companies like Goldman Sachs.
Whatever one’s reservations about TVNZ and the government’s decision to strip it of all of its public service functions, so that it is now virtually indistinguishable from commercial television, at least it isn’t reliant on a cash strapped private equity company. The incident also highlights that TV3 –and Radio Works—could go broke. What would happen then? I can’t imagine too many buyers lining up to buy TV3 in the present climate.
The fact that the government is borrowing $300 million a week to keep RNZ afloat and subsidize TV One apparently completely escapes Kommie Kedgely. Even the fact that the government looks quite likely to go broke like the European PIGs is beyond her scope. She must have forgotten what Bill English said only a few weeks ago. Before the Christchurch earthquake-
Government financial statements for the six months ending December 31, show the cash deficit heading towards a record $15.6 billion in the current financial year, Finance Minister Bill English says. The statements show revenue and spending broadly in line with forecasts in the Half-Year Update. “However with the cash deficit already sitting at a record $13.2 billion and set to rise to $15.6 billion by June 30 – adding to New Zealand’s already large stock of foreign debt – there is no room for complacency,” Mr English says.
“This Government has borrowed heavily to support the economy and jobs during the recession and the early stages of recovery, but that kind of borrowing cannot continue indefinitely. “New Zealand as a whole needs to save more, spend less and reduce its heavy reliance on foreign debt – and the Government is a crucial player in this.
The debt situation that threatens private broadcasters might be dire, but its nothing compared to the debt that ignorant irresponsible Keynesian communists like Kedgely have put the government into. Her precious socialist broadcasters are, as a result of that debt, as likely to go broke as anyone.