While all the Antique Media scribes were focused on an apparent dust up between John Key and Pita Sharples, nobody took any notice of the dark horse which quietly entered the race.
Adolf heard on Radio Left wing yesterday some comments from the Chairman of Ngati Kahungunu who indicated his iwi would put up whatever funds it took to win the bid.
This little bombshell was ignored as the media gorged itself on John Key's intervention in the affair.
Look now for Maori Television Services to be part sold off after 2011. The buyers have revealed themselves. Adolf picks that a consortium of Ngati Kahungunu, Tainui and Ngai Tahu will purchase a 49% share. In return they will receive 49% of annual profit and provide 49% of new capital. It is high time IWI put some of their large settlement fortunes into outfits like MTS. The savings for tax payers are obvious. So many million dollars less for Bill English to borrow each year.
This is why the bid is so important for Maori TV. They need it to quickly increase their permanent audience in order to drive up their advertising rates and the intrinsic value of the business. Rugby world cup coverage will achieve that goal
I wonder whether Messrs Sharples and Key set up this whole debacle in the first place, to flush out the wealthy IWI.
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