Friday, 27 March 2026

Canadian billionaire becomes NZME's biggest shareholder

    1. Business

    Jim Grenon bought a 9.3 percent stake in NZME for just over $9 million. Supplied photo
    Jim Grenon's stake now sits 0.1 percent below the threshold that would trigger a compulsory takeover offer. Photo: Supplied/RNZ: Brad White
    New Zealand-based Canadian billionaire Jim Grenon has increased his shareholding in listed media company NZME, owner of the New Zealand Herald and Newstalk ZB.

    A notice to the NZX shows Grenon spending just under $2 million to acquire almost 1.8 percent of NZME, making him its largest shareholder.

    His total stake now stands at 19.9 percent, just below the 20 percent threshold that would trigger a compulsory takeover offer under New Zealand law.

    Separately, NZME director and former cabinet minister Steven Joyce has almost doubled his shareholding to just over 100,000 shares.

    RNZ