1 00:00:00,200 --> 00:00:02,680 Speaker 1: Now, the battle over Enzidny's governance is over for now. 2 00:00:02,720 --> 00:00:05,480 Speaker 1: At a meeting today, Stephen Joyce was voted in as 3 00:00:05,519 --> 00:00:08,480 Speaker 1: the new chair and public critic Jim Grennan was also 4 00:00:08,480 --> 00:00:10,880 Speaker 1: appointed a new director. Stephen is with us now, how Stephen? 5 00:00:12,039 --> 00:00:13,119 Speaker 2: Hello, How are you, Heather? 6 00:00:13,200 --> 00:00:15,160 Speaker 1: I'm very well, Thank you. Congrats. You've got a big 7 00:00:15,160 --> 00:00:16,320 Speaker 1: task ahead of you, having you. 8 00:00:17,920 --> 00:00:19,840 Speaker 2: Well. I mean, you know, I've done a few big 9 00:00:19,880 --> 00:00:23,400 Speaker 2: tasks over the years, but it's certainly a bit involved. Yeah. 10 00:00:23,440 --> 00:00:24,840 Speaker 1: I wasn't saying you're not up to it. I mean, 11 00:00:24,880 --> 00:00:27,720 Speaker 1: if anybody is, you know, the business. But is it 12 00:00:27,800 --> 00:00:29,960 Speaker 1: sobering to look at the state of the economy and 13 00:00:30,000 --> 00:00:32,479 Speaker 1: how it's affecting the media at the minute? 14 00:00:33,320 --> 00:00:35,559 Speaker 2: Well, I think it's the same for every business actually, 15 00:00:35,760 --> 00:00:40,720 Speaker 2: but I think the media overall is coming out of 16 00:00:40,800 --> 00:00:44,639 Speaker 2: it relatively well. I know that it's a tough year 17 00:00:44,720 --> 00:00:46,960 Speaker 2: last year, but I think a lot of the sort 18 00:00:47,000 --> 00:00:50,519 Speaker 2: of structural issues are in the process of being addressed. 19 00:00:50,560 --> 00:00:53,400 Speaker 2: People now know what the future looks like to some degree, 20 00:00:53,920 --> 00:00:56,720 Speaker 2: and they it's really all about taking advantage of the 21 00:00:56,760 --> 00:00:57,840 Speaker 2: opportunities that are out there. 22 00:00:57,880 --> 00:00:58,920 Speaker 1: What does the future look like? 23 00:01:00,280 --> 00:01:03,760 Speaker 2: Well, I think it's a common it's primarily digital. It's 24 00:01:03,760 --> 00:01:08,640 Speaker 2: a combination of as we saw today with the type 25 00:01:08,640 --> 00:01:12,480 Speaker 2: of stuff and trade me it's a combination of media 26 00:01:12,640 --> 00:01:20,319 Speaker 2: and what they call verticals or classified and it's about 27 00:01:20,720 --> 00:01:26,080 Speaker 2: not necessarily slavishly following social media, striking your own path. 28 00:01:26,560 --> 00:01:29,480 Speaker 1: So do you think, just judging by what you said, 29 00:01:29,520 --> 00:01:31,959 Speaker 1: then sounds would you agree that it sounds like One 30 00:01:32,040 --> 00:01:33,600 Speaker 1: Roof stays with enz mey. 31 00:01:34,920 --> 00:01:37,200 Speaker 2: Well, I don't think anybody was suggesting that One Roof 32 00:01:37,240 --> 00:01:40,120 Speaker 2: would be completely separated from ZEM. I'm sure there'll be 33 00:01:40,120 --> 00:01:43,240 Speaker 2: one of the options to be looked at. The suggestion 34 00:01:43,400 --> 00:01:46,240 Speaker 2: from some share holders that I spoke to was that 35 00:01:46,600 --> 00:01:51,120 Speaker 2: it'd effectively be listed separately and retains some common ownership 36 00:01:51,440 --> 00:01:56,520 Speaker 2: to effectively reveal the true value of One Roof. Now, 37 00:01:56,560 --> 00:01:58,960 Speaker 2: where that's the thing to do right now, where that's 38 00:01:59,000 --> 00:02:00,560 Speaker 2: the thing to do in the future, or whether we 39 00:02:00,880 --> 00:02:03,840 Speaker 2: had it all those are all discussions out of us. 40 00:02:04,080 --> 00:02:05,600 Speaker 1: Do you know Jim Grennan. 41 00:02:06,400 --> 00:02:09,280 Speaker 2: Yes, well I do now. Yes. I met him for 42 00:02:09,320 --> 00:02:11,440 Speaker 2: the first time. Actually I met him a couple of 43 00:02:11,480 --> 00:02:13,440 Speaker 2: years ago when he was looking at stuff, and then 44 00:02:13,480 --> 00:02:16,480 Speaker 2: I met him again prior to Christmas when his group 45 00:02:16,520 --> 00:02:20,800 Speaker 2: approached me to potentially be one of their director platform, 46 00:02:20,880 --> 00:02:22,880 Speaker 2: and I turned them down at that point. And then 47 00:02:22,919 --> 00:02:24,680 Speaker 2: I've met him aumber of times more recently, and. 48 00:02:24,880 --> 00:02:26,720 Speaker 1: What do you make of him? 49 00:02:27,000 --> 00:02:33,079 Speaker 2: I think he actually really interesting guy. He's very passionate 50 00:02:33,120 --> 00:02:37,120 Speaker 2: about the media. He's a significant investor, obviously quite a 51 00:02:37,200 --> 00:02:41,720 Speaker 2: wealthy person, and I actually think he could be a 52 00:02:41,960 --> 00:02:43,480 Speaker 2: very positive influence on the board. 53 00:02:43,880 --> 00:02:46,440 Speaker 1: Do you think that all of the stuff that's paid 54 00:02:46,639 --> 00:02:48,800 Speaker 1: played out publicly has been bad for the company. 55 00:02:50,680 --> 00:02:54,400 Speaker 2: Well, I think it's certainly been challenging for the company 56 00:02:55,200 --> 00:02:58,560 Speaker 2: in terms of having all that happening, But I think, well, 57 00:02:58,560 --> 00:03:03,959 Speaker 2: I'm hopeful that the new board has got fresh pairs 58 00:03:03,960 --> 00:03:06,920 Speaker 2: of eyes and it's a pretty good skill set and 59 00:03:06,919 --> 00:03:09,360 Speaker 2: it can take the company forward from here. So in 60 00:03:09,360 --> 00:03:13,160 Speaker 2: that sense, it's good. And you know, I think every 61 00:03:13,200 --> 00:03:15,640 Speaker 2: now and then it's good to have it's good to 62 00:03:15,680 --> 00:03:19,360 Speaker 2: have a change and a shakeup, and that's of course 63 00:03:19,400 --> 00:03:21,520 Speaker 2: what's happened out of this. But I think it's also 64 00:03:21,560 --> 00:03:24,079 Speaker 2: important for the shareholders and the board to come together 65 00:03:24,160 --> 00:03:27,600 Speaker 2: and provide a steady platform for the company to grow from. 66 00:03:27,680 --> 00:03:30,480 Speaker 2: And so when I agreed to put my name for it, 67 00:03:30,520 --> 00:03:33,840 Speaker 2: I thought there's an opportunity here to actually steady the 68 00:03:33,880 --> 00:03:36,760 Speaker 2: ship down, get it on a sensible platform, and get 69 00:03:36,760 --> 00:03:37,600 Speaker 2: it firing forward. 70 00:03:37,880 --> 00:03:40,400 Speaker 1: How much are you prepared to get involved with decisions, 71 00:03:41,000 --> 00:03:42,920 Speaker 1: you know, in terms of whether you think a strategy 72 00:03:43,000 --> 00:03:44,040 Speaker 1: is a good strategy or not. 73 00:03:45,200 --> 00:03:48,000 Speaker 2: Well, the board has a role in testing the strategy 74 00:03:48,040 --> 00:03:52,640 Speaker 2: and providing challenge to management, and that's an important part 75 00:03:52,680 --> 00:03:56,560 Speaker 2: of the gig, and that's their job actually beyond also 76 00:03:56,640 --> 00:04:00,960 Speaker 2: hiring the CEE if that's required. So yeah, we will 77 00:04:01,000 --> 00:04:03,600 Speaker 2: be involved in that basis. But do I want to 78 00:04:03,920 --> 00:04:06,680 Speaker 2: run the actual company. No, I don't, and I don't 79 00:04:06,720 --> 00:04:11,400 Speaker 2: believe Jim Grand does either. But it is about assisting 80 00:04:11,440 --> 00:04:14,560 Speaker 2: the management and sending a good team and providing good, 81 00:04:14,600 --> 00:04:16,320 Speaker 2: positive challenge to what they're proposing. 82 00:04:16,440 --> 00:04:18,840 Speaker 1: You weren't suggesting just before that it might be required, 83 00:04:18,880 --> 00:04:24,120 Speaker 1: were you? What, were hiring a new ceh? 84 00:04:24,120 --> 00:04:28,520 Speaker 2: Well, no, I'm just just like, no, I'm just saying 85 00:04:28,520 --> 00:04:30,080 Speaker 2: that that's the job of board. 86 00:04:30,200 --> 00:04:33,000 Speaker 1: Just hypothes It was a hypothetic. 87 00:04:34,440 --> 00:04:37,040 Speaker 2: Pathetical. So if Michael ever retired, which I'm sure I'll 88 00:04:37,080 --> 00:04:39,440 Speaker 2: do one day in the distant future, then obviously our 89 00:04:39,480 --> 00:04:40,760 Speaker 2: job would be to hire a place. 90 00:04:40,839 --> 00:04:46,520 Speaker 1: Yeah, I mean the video strategy thoughts. 91 00:04:48,120 --> 00:04:50,080 Speaker 2: Not nothing much at this point EXCEPTI so that I 92 00:04:50,120 --> 00:04:53,080 Speaker 2: have had a look at it myself, and as a consumer, 93 00:04:53,120 --> 00:04:54,080 Speaker 2: I was quite impressed with it. 94 00:04:54,279 --> 00:04:56,800 Speaker 1: Okay, the editorial board, how does it work? 95 00:04:57,920 --> 00:05:01,760 Speaker 2: I don't know the answer that question yet. One of 96 00:05:01,760 --> 00:05:04,159 Speaker 2: the early questions for Michael and the team will be 97 00:05:04,320 --> 00:05:08,080 Speaker 2: how are they thinking about doing it, and what do 98 00:05:08,160 --> 00:05:11,440 Speaker 2: they learned from various options overseas and how do they 99 00:05:11,440 --> 00:05:14,280 Speaker 2: think it would add value? And then, like I said before, 100 00:05:14,360 --> 00:05:17,160 Speaker 2: we'll provide some challenge and some positive challenge to that 101 00:05:17,800 --> 00:05:20,159 Speaker 2: and endorse it if it's the right way forward. 102 00:05:20,200 --> 00:05:22,120 Speaker 1: What did you make of trade me? But it's totally 103 00:05:22,160 --> 00:05:24,240 Speaker 1: changing the subject here, even apologies, but what do you 104 00:05:24,279 --> 00:05:26,400 Speaker 1: make of trade me buying stuff into stuff? 105 00:05:26,440 --> 00:05:28,200 Speaker 2: At least buying into stuff? 106 00:05:28,279 --> 00:05:28,599 Speaker 1: Yeah? 107 00:05:28,800 --> 00:05:31,360 Speaker 2: Look, well, firstly, I thought it was reasonably obvious moves, 108 00:05:31,520 --> 00:05:34,159 Speaker 2: and obviously they've been flagged for a while as well. 109 00:05:35,000 --> 00:05:38,279 Speaker 2: I think it makes sense. I mean, if you cast 110 00:05:38,320 --> 00:05:41,920 Speaker 2: your mind back to the newspaper days, where the front 111 00:05:42,000 --> 00:05:45,039 Speaker 2: half of the paper are basically broaden the eyeballs, and 112 00:05:45,080 --> 00:05:46,839 Speaker 2: then the back half of the paper made the money, 113 00:05:47,640 --> 00:05:50,360 Speaker 2: and that's a sort of similar tie up that you're 114 00:05:50,360 --> 00:05:56,560 Speaker 2: seeing in that vertical classified space alongside alongside the eyeballs provided, 115 00:05:56,560 --> 00:05:58,880 Speaker 2: and that's really what one roof's doing so well, Yeah, 116 00:05:59,040 --> 00:06:03,159 Speaker 2: is that cerrating a lot of content. It's it's appearing 117 00:06:03,200 --> 00:06:05,839 Speaker 2: on the Herald website, which has a lot of eyeballs, 118 00:06:06,320 --> 00:06:09,920 Speaker 2: and effectively it's driving people who are interested in buying 119 00:06:10,000 --> 00:06:12,840 Speaker 2: and selling houses to the website. So it's not surprising 120 00:06:13,040 --> 00:06:15,840 Speaker 2: to me that the trade me and stuff will try 121 00:06:15,880 --> 00:06:17,920 Speaker 2: and copy that, particularly as that's where they came from 122 00:06:18,000 --> 00:06:18,560 Speaker 2: back in the day. 123 00:06:18,640 --> 00:06:21,440 Speaker 1: Yeah, totally, very good point. Now, does this mean that 124 00:06:21,480 --> 00:06:23,080 Speaker 1: we're going to see you a lot in the office 125 00:06:23,120 --> 00:06:25,160 Speaker 1: and you're going to have to be dragged away from 126 00:06:25,200 --> 00:06:25,720 Speaker 1: your garden? 127 00:06:26,640 --> 00:06:33,400 Speaker 2: Oh? Possibly, possibly daily. No, I will be there regularly, 128 00:06:33,480 --> 00:06:36,120 Speaker 2: and it will drag me away from my garden. But 129 00:06:36,160 --> 00:06:38,520 Speaker 2: I'm pleased to report that every spare five minutes I 130 00:06:38,600 --> 00:06:40,640 Speaker 2: get hither. I'm working on my garden at the moment, 131 00:06:40,680 --> 00:06:44,000 Speaker 2: I'm coaxing my collieflower to produce good heads of colliflar. 132 00:06:44,160 --> 00:06:46,680 Speaker 1: How many have you got there, I've got. 133 00:06:46,600 --> 00:06:49,600 Speaker 2: About a dozen. Three of them are looking really good, 134 00:06:49,680 --> 00:06:50,919 Speaker 2: some of them are looking a bit weedy. 135 00:06:51,440 --> 00:06:54,000 Speaker 1: As this a question because it just seems like a 136 00:06:54,000 --> 00:06:55,600 Speaker 1: hell of a lot of effort to go to for 137 00:06:55,680 --> 00:07:00,400 Speaker 1: what like maybe two dozen meals. 138 00:07:00,680 --> 00:07:03,520 Speaker 2: That's just the cauliflower. Then you had the broccoli, then 139 00:07:03,560 --> 00:07:04,800 Speaker 2: you had the cabbages. 140 00:07:05,160 --> 00:07:06,520 Speaker 1: You feed yourself for a year. 141 00:07:07,000 --> 00:07:09,680 Speaker 2: Brussels sprouts, Well, no, but I'll get two or three 142 00:07:09,800 --> 00:07:11,920 Speaker 2: I'll get two or three months of green. Certainly more 143 00:07:11,920 --> 00:07:14,000 Speaker 2: than the family will want to eat, that's for sure. Good. 144 00:07:14,000 --> 00:07:16,600 Speaker 1: Well, listen when you're in the office, when they's sick 145 00:07:16,640 --> 00:07:18,920 Speaker 1: of your cauliflower or your broccoli, and you're in the 146 00:07:18,960 --> 00:07:20,120 Speaker 1: office and you think, geez, what am I going to 147 00:07:20,200 --> 00:07:21,600 Speaker 1: do with it? We'll take it. 148 00:07:22,520 --> 00:07:24,760 Speaker 2: Well. One of your colleagues has already made a request 149 00:07:24,800 --> 00:07:27,160 Speaker 2: for my apple cucumbers that I used to hand around 150 00:07:27,160 --> 00:07:27,760 Speaker 2: the gallery. 151 00:07:27,920 --> 00:07:31,040 Speaker 1: See journo is always looking for a freeba. They can't 152 00:07:31,040 --> 00:07:33,800 Speaker 1: help themselves. But also I'll have one of them. Thanks Steven, 153 00:07:33,960 --> 00:07:35,400 Speaker 1: look after yourself. It's nice to have you with a 154 00:07:35,440 --> 00:07:37,360 Speaker 1: company that. Stephen Joyce the new chair of ends in Me, 155 00:07:37,440 --> 00:07:39,600 Speaker 1: which of course owns News Talks Z'B and The Herald. 156 00:07:40,240 --> 00:07:43,400 Speaker 2: For more from Heather Duplessy Allen Drive, listen live to 157 00:07:43,520 --> 00:07:46,640 Speaker 2: News Talk Z'B from four pm weekdays, or follow the 158 00:07:46,720 --> 00:07:48,360 Speaker 2: podcast on iHeartRadio.