The 2009 financial results for MediaWorks explain why Ironbridge bosses last year hired an Australian with a reputation as a hatchet man to run TV3 and C4.
Yet as Ian Audsley packs his bags and heads home to Sydney this month, he has hardly brandished his axe. His only obviouscut has been to breakfast television and the morning show Sunrise and the automating of news sources.
The saving? Twenty staff and maybe $2 million a year.
TV3 would not comment yesterday on whether there were any other cutbacks to its programming but it is understood that the news operation is still under pressure to make cuts.
The 7pm magazine show Campbell Live cheated axeman Audsley at the end of last year, increasing its audience and revenue-earning potential, though it is understood that, like TVNZ, TV3 has considered changing to a half-hour news bulletin. Things may be less stressful after the debt restructuring.
But the 2009 financial results make it clear that TV3 will be looking at all options for saving money. One of those options - suggested by Television New Zealand and given serious consideration by TV3 owners - is to move TV3 to a TVNZ building in Hobson St, adjacent to TVNZ studios.
Such a move would provide a boost for the balance sheet but require TV3 to sell its own studios in Eden Tce.
The other financial issue facing TV3 is the future of its digital and online services, with Audsley's replacement Jason Paris - a former head of new media at TVNZ - starting at the end of May.
TV3 is trailing TVNZ with new media, but will need to find revenue to make the capital investment required to catch up.
