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RNZ chair says land sale removes need for government bailout

In a Checkpoint interview, Brent Impey faces questions about leadership accountability, proposed job cuts and a bank loan he says breached the Crown Entities Act.

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RNZ Story of November 10, 2026Trari Newsroom

Why this story? One of RNZ's most watched videos since yesterday, with 21,885 views.

Near $12m loss: 'I've never seen anything like this' - RNZ chair | Checkpoint

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0:18Impey says an interim CFO discovered a much larger loss than the board and management had understood.
2:50He says chief executive Paul Thompson has resigned and will finish at the end of December.
5:16An independent review will examine financial oversight, involving Treasury and the Audit Office.
8:05The restructuring proposal includes 40 redundancies across RNZ's divisions.
8:52Impey acknowledges a Crown Entities Act breach but says no evidence of criminality or fraud has been found.
11:11He says pending Henderson transmission-site sale proceeds mean RNZ does not need government bailout money.

RNZ does not need a government bailout to cover its unexpected financial loss because proceeds from selling its Henderson transmission site are pending, board chair Brent Impey tells Checkpoint.

The interview with Lisa Owen adds a funding explanation to the public broadcaster's financial crisis, alongside pointed questions about why senior leaders remain in place while staff face redundancies.

Impey says the board and management believed RNZ's deficit was about NZ$400,000 until an interim chief financial officer discovered a loss approaching NZ$12 million in October. He describes the breakdown as an organisational failure and says an independent review will examine financial oversight, involving Treasury and the Audit Office.

Owen presses him on chief executive Paul Thompson's accountability. Impey says Thompson has resigned and will finish at the end of December. Asked why those responsible should remain to oversee the response, Impey replies: "Well, someone's got to run the place, don't they? What do you suggest?"

The restructuring proposal includes 40 redundancies across the organisation. Impey also acknowledges that a bank loan breached the Crown Entities Act, while distinguishing that breach from the question of fraud: "we have found zero evidence of criminality and fraud."

His explanation about the land sale addresses how RNZ expects to cover the shortfall. The independent review is intended to establish how the organisation failed to recognise it.

Published on Trari