1 00:00:00,120 --> 00:00:02,519 Speaker 1: So what difference will Sky to you be owning TV 2 00:00:02,560 --> 00:00:05,640 Speaker 1: three make to our viewing pleasure? Warner Brothers Discovery wanted out. 3 00:00:05,720 --> 00:00:09,039 Speaker 1: Sky had a dollar, so the deal was done. Sophie 4 00:00:09,039 --> 00:00:12,879 Speaker 1: Maloney is the CEO of Sky Television, wh happened to 5 00:00:12,880 --> 00:00:14,960 Speaker 1: be in the building, So we dragged out of the 6 00:00:14,960 --> 00:00:17,880 Speaker 1: cafeteria or wherever you were. Nice to meet you and 7 00:00:18,120 --> 00:00:20,200 Speaker 1: we appreciate, appreciate your time very much. A couple of 8 00:00:20,239 --> 00:00:22,720 Speaker 1: really quick things I didn't think were addressed properly yesterday. 9 00:00:22,760 --> 00:00:24,560 Speaker 1: Where's the com commonness. 10 00:00:24,800 --> 00:00:27,520 Speaker 2: The conversations with a ComCom we had by the legal 11 00:00:27,560 --> 00:00:30,320 Speaker 2: teams in advance of proceeding with the deal, and they've 12 00:00:30,320 --> 00:00:32,040 Speaker 2: said they don't need to investigate any further. 13 00:00:32,560 --> 00:00:35,400 Speaker 1: And was that predicated on the idea that Discovery said 14 00:00:35,400 --> 00:00:37,360 Speaker 1: we're going to close the shop down anyway? 15 00:00:38,080 --> 00:00:42,040 Speaker 2: The discussions there are totally confidential to counsel, but I 16 00:00:42,040 --> 00:00:44,559 Speaker 2: think you can see from Michael Brooks statement yesterday that 17 00:00:44,600 --> 00:00:47,760 Speaker 2: it wasn't commercially viable and the Warner Brothers Discovery ecosystem 18 00:00:47,800 --> 00:00:50,559 Speaker 2: in New Zealand, so that did potentially put a bit 19 00:00:50,560 --> 00:00:52,720 Speaker 2: of a lens on it. But I wasn't in those 20 00:00:52,760 --> 00:00:55,400 Speaker 2: discussions which are kept pretty tight between the legal teams. 21 00:00:55,520 --> 00:00:58,200 Speaker 1: They would have to have believed that argument, because there's 22 00:00:58,240 --> 00:01:00,920 Speaker 1: no question there are fewer players in the market now 23 00:01:01,040 --> 00:01:02,880 Speaker 1: owning the Zealand media. 24 00:01:03,040 --> 00:01:06,680 Speaker 2: I think part of it is, obviously these are complementary assets. Yes, 25 00:01:06,720 --> 00:01:09,200 Speaker 2: we have sky Open, but we're predominantly, as you know, 26 00:01:09,840 --> 00:01:14,040 Speaker 2: a pay provider, whereas Discovery New Zealand is totally free 27 00:01:14,120 --> 00:01:16,160 Speaker 2: and we don't have a Bevod platform. So this is 28 00:01:16,200 --> 00:01:18,800 Speaker 2: really about complementary assets coming together, which is part of 29 00:01:18,840 --> 00:01:20,840 Speaker 2: the contest that I think the ComCom would have been 30 00:01:20,840 --> 00:01:21,280 Speaker 2: looking at. 31 00:01:21,280 --> 00:01:24,440 Speaker 1: How long have you been involved in the very real 32 00:01:24,640 --> 00:01:26,240 Speaker 1: prospect of owning it. 33 00:01:27,880 --> 00:01:31,920 Speaker 2: The conversation sort of started late last year and then 34 00:01:32,800 --> 00:01:36,640 Speaker 2: as we started to look at the opportunity, confluence of 35 00:01:36,680 --> 00:01:39,840 Speaker 2: time and events, so certainly the last month has been 36 00:01:39,840 --> 00:01:42,800 Speaker 2: incredibly intense. We only got to finalize the deal and 37 00:01:42,800 --> 00:01:45,399 Speaker 2: we announced the next morning, so yeah, it's been a 38 00:01:45,480 --> 00:01:46,200 Speaker 2: very busy time. 39 00:01:46,280 --> 00:01:47,040 Speaker 1: Who called who? 40 00:01:47,960 --> 00:01:50,760 Speaker 2: It's definitely just we're in discussions with Warner Brothers all 41 00:01:50,760 --> 00:01:53,760 Speaker 2: the time about content, and I have my counterpart is 42 00:01:53,800 --> 00:01:56,520 Speaker 2: based up in Singapore. He and I have talked about 43 00:01:56,720 --> 00:01:59,320 Speaker 2: is there something more we could do in this market 44 00:01:59,320 --> 00:02:01,160 Speaker 2: for a number of years actually, But this is the 45 00:02:01,440 --> 00:02:01,920 Speaker 2: timing is. 46 00:02:01,960 --> 00:02:04,640 Speaker 1: Right your comments you say about Television New zeal And, 47 00:02:04,680 --> 00:02:07,160 Speaker 1: I understand your position, But Television New Zealand sports wise 48 00:02:07,200 --> 00:02:08,919 Speaker 1: now are stuffed, aren't they. 49 00:02:09,120 --> 00:02:09,920 Speaker 2: No, I don't think so. 50 00:02:10,080 --> 00:02:12,280 Speaker 1: How is it possible that you go to the Rugby Union, 51 00:02:12,320 --> 00:02:14,720 Speaker 1: for example, and go, well, we'll take some of the 52 00:02:14,720 --> 00:02:17,160 Speaker 1: all blacks and we'll pop it on to TV three. 53 00:02:17,240 --> 00:02:18,840 Speaker 1: Oh hold on, no, we won't. We might sell it 54 00:02:18,880 --> 00:02:20,000 Speaker 1: to TV and Z. No, you're not. 55 00:02:21,120 --> 00:02:23,320 Speaker 2: I think that the Rugby Union is the owner of 56 00:02:23,320 --> 00:02:26,320 Speaker 2: those rights. So ultimately they've got a decision to make 57 00:02:26,360 --> 00:02:29,160 Speaker 2: about where they want to place some of the free 58 00:02:29,200 --> 00:02:31,320 Speaker 2: to wear rights. It'll be in good discussion with us. 59 00:02:31,360 --> 00:02:32,360 Speaker 2: But I still think there's. 60 00:02:32,160 --> 00:02:35,960 Speaker 1: A really I'm I'm just I don't want to bag 61 00:02:36,000 --> 00:02:37,800 Speaker 1: on TV and said, but it just means, and this 62 00:02:37,880 --> 00:02:41,680 Speaker 1: goes back to the ComCom thing. You own a tremendous 63 00:02:41,720 --> 00:02:44,840 Speaker 1: amount of very valuable real estate now and you have 64 00:02:44,880 --> 00:02:47,880 Speaker 1: a control over that and for some that's hard work now, 65 00:02:47,960 --> 00:02:49,079 Speaker 1: isn't it. I mean, TV and Z. 66 00:02:49,240 --> 00:02:51,680 Speaker 2: Are TV and Z are still the juggernaut though in 67 00:02:51,720 --> 00:02:55,120 Speaker 2: this market sixty five percent advertising revenue share. They have 68 00:02:55,160 --> 00:02:58,760 Speaker 2: an immense audience. You know they are TV one is 69 00:02:58,760 --> 00:03:00,880 Speaker 2: a category of one on that front, so I don't 70 00:03:00,919 --> 00:03:02,840 Speaker 2: think you can discount that, and I think where there 71 00:03:02,840 --> 00:03:06,760 Speaker 2: are codes who have got big freeware obligations, my expectation 72 00:03:06,919 --> 00:03:09,440 Speaker 2: is that TVNZ will be building a very good foot forward, 73 00:03:09,680 --> 00:03:13,680 Speaker 2: particularly if they can fold in an ability to enable 74 00:03:13,720 --> 00:03:16,440 Speaker 2: a pay platform so they could do things as events, 75 00:03:16,480 --> 00:03:18,840 Speaker 2: and I think that's positive. I think it's positive for 76 00:03:19,600 --> 00:03:23,520 Speaker 2: the local media market equally. From my perspective, what I'm 77 00:03:23,560 --> 00:03:26,760 Speaker 2: thrilled about is the opportunity to make some awesome Kiwi 78 00:03:26,840 --> 00:03:28,680 Speaker 2: stories good in partnership. 79 00:03:29,440 --> 00:03:32,720 Speaker 1: Was it worth only a dollar? Would you have paid 80 00:03:32,760 --> 00:03:33,840 Speaker 1: real money for it or not? 81 00:03:34,560 --> 00:03:37,560 Speaker 2: So, as you know, Mike, something's worth a dollar, it 82 00:03:37,600 --> 00:03:40,520 Speaker 2: doesn't mean it's profitable. So you know there are going 83 00:03:40,600 --> 00:03:43,280 Speaker 2: to be Warner Brothers, Discovery will be filing their accounts. 84 00:03:43,320 --> 00:03:47,320 Speaker 2: Evere knows. It's been a challenging time. The opportunity we 85 00:03:47,400 --> 00:03:50,000 Speaker 2: have with the where the deal is structured is to 86 00:03:50,000 --> 00:03:53,200 Speaker 2: turn it into a profitable business alongside the Sky asss. 87 00:03:53,480 --> 00:03:56,000 Speaker 1: So you believe they can be profitable or does it 88 00:03:56,160 --> 00:03:58,080 Speaker 1: need Sky to make it profitable. 89 00:03:58,160 --> 00:04:02,400 Speaker 2: It is a combination of our ability around procuring content 90 00:04:02,480 --> 00:04:05,480 Speaker 2: and particularly on the broadcast infrastructure that actually makes means 91 00:04:05,480 --> 00:04:08,560 Speaker 2: that we're uniquely placed to actually turn the center a. 92 00:04:08,480 --> 00:04:10,840 Speaker 1: Profitable The bost advice I can offer you is if 93 00:04:10,880 --> 00:04:12,440 Speaker 1: you stick some snooker on TV. 94 00:04:12,400 --> 00:04:18,159 Speaker 2: Three, Well, there's an idea, Mike, here is an idea. 95 00:04:18,200 --> 00:04:19,480 Speaker 1: Appreciate your time very much. 96 00:04:20,040 --> 00:04:22,960 Speaker 2: For more from the Mic Asking Breakfast, listen live to 97 00:04:23,080 --> 00:04:23,599 Speaker 2: news talks. 98 00:04:23,640 --> 00:04:26,839 Speaker 1: It'd be from six am weekdays, or follow the podcast 99 00:04:26,880 --> 00:04:27,680 Speaker 1: on iHeartRadio.