MediaWorks Investments has hired oOh! Media chairman Michael Anderson to lead the free-to-air broadcaster, replacing Mark Weldon who left the company in May citing the "personal cost" of the role being "too high".

Anderson will join the Auckland-based broadcaster on August 29 as chief executive and take a position on the board. He will oversee TV3 and a stable of radio stations including The Edge, MoreFM and RadioLive. Anderson joins the company as it grapples with a soft advertising market and inherits Weldon's restructure integrating the radio, TV and online businesses to become agnostic about the platform.

"MediaWorks is a company with strong brands and a strong history in New Zealand," Anderson said in a statement. "With the global disruption in media continuing, this an excellent time to join and lead MediaWorks through a difficult but exciting period."

The broadcaster, owned by US private equity firm Oaktree Capital, generated trading earnings before interest, tax, depreciation and amortisation of $33.5 million in the 15 months ended December 31, 2015, on revenue of $347.9 million.

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Weldon departed the company in May following a string of high-profile staff departures and public relations disasters, including the breach of a central bank lock-up by TV3 Newshub reporters, while director Martin Dalgliesh followed him out the door in July after New Zealand-based Jack Matthews, a former chief of TelstraSaturn, and Oaktree Capital executive Jonas Mitzschke were appointed directors in April.

MediaWorks chief financial officer David Chalmers, who was acting CEO and tipped to be in the running for the top job, will leave the broadcaster to take on the CFO role at Spark New Zealand.

Chalmers will take up the appointment later this year, replacing Jolie Hodson who will move to head Spark Digital unit, supporting the telecommunications company's corporate and government customers. Chalmers has previously worked in finance and management roles at iSelect, DuluxGroup and Macquarie Capital.

"We are excited to have David join our leadership team," Spark chief executive Simon Moutter said in a statement. "He's a talented financial executive with significant international experience."

Spark overhauled its executive team in April, which saw the departures of head of digital Tim Miles and ventures unit boss Rod Snodgrass.