Mark Weldon named MediaWorks new boss

Former NZX CEO Mark Weldon has been appointed the new chief executive of media company MediaWorks.

Former New Zealand stock exchange boss Mark Weldon is taking over as group chief executive of Mediaworks, the company which owns TV3, Four and controls half of the country's commercial radio market.

Weldon replaces Sussan Turner who resigned unexpectedly on July 2 amid expectation of significant change at the company after it was rescued from receivership in November last year.

Weldon's move back into the corporate world comes as a surprise after his passion as a vintner through his ownership of the Terra Sanctra Winery in Central Otago.

Weldon has no background in media and the appointment suggests that TV producer director Julie Christie will continue to provide intelligence on the sector.

MediaWorks Chairman - Australian Rod McGeoch said the company had emerged from receivership sooner and in better shape than initially anticipated.

The group CEO appointment would complement existing skills, focussing on a strategy to offensively pursue growth, McGeoch said.

"The future of the television and radio markets continues to look bright. Weldon said he had followed MediaWorks closely and paid tribute to the commercial board.

"Our aim is to grow market share and continue to build the most vibrant, entrepreneurial and spirited organisation that is a real favourite of all New Zealanders, " said McGeoch.

Other non-executive directors include reality TV queen Julie Christie and the Australian media director Martin Dalgleish.

After a long period MediaWorks has been more stable under the ownership of its former bankers.

But still faces challenges - from fragmentation of the television market, a tough advertising market and after years where it could not afford investment it has been trying to catch up with its rival Television New Zealand.

Read the announcement here: