MediaWorks' board backs CEO Weldon
MediaWorks chief executive Mark Weldon has once again been given the full backing of the media company's board.
It had been speculated that Mr Weldon's position could be in jeopardy when the MediaWorks board met today. The speculation was, in part, prompted by the shock resignation of star newsreader Hilary Barry at the end of last week.
After today's board meeting MediaWorks' chair Rod McGeoch dismissed the conjecture.
He said there was not a mainstream media company in the world that had not faced major restructuring involving a focus on reducing costs, part of which involved reviewing the profitability of all shows and segments
"MediaWorks is no different. We have to change and we are changing. We have a clear strategy for this, led by our CEO."
Mr McGeoch said the board fully supported the MediaWorks strategy and had "full support for the CEO executing that strategy".
MediaWorks owns TV3 and FOUR and also radio stations including the Edge, the Breeze and More FM.