TVNZ has snapped the broadcast rights to long-running soap Home and Away from TV3, whose owner MediaWorks NZ Limited is currently in receivership.
The company said it was disappointed the distributor of Home and Away had chosen to cancel its contract and grant the show’s license to TVNZ.
”It is regrettable that TVNZ has convinced the distributor to cancel our agreement. However, this business is much bigger than one show.”
MediaWorks would continue to produce and broadcast great television for its viewers, and was now focusing on providing a top quality alternative to Home & Away for the local audience, Gibson said.
Home and Away has consistently won high ratings for TV3 and delivered audiences to 3 News.
MediaWorks was placed in receivership on June 17 with debts of $700 million. The business is set to be sold as a going concern to a consortium of its lenders.
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