F**k you, pay me

Impey steps down from MediaWorks
MediaWorks chief executive Brent Impey is stepping down at the end of the year after 10 years at the helm of the TV3 owner. Impey, who has a background in media law, announced today he will step down from the position he has held since 2000.

Well it had to happen at some time didn’t it? The IronBridge Aussies who borrowed large and bought high now have to service that massive debt while their asset gets perversely hit by higher ratings and falling revenue.

Brent’s sudden departure suggests their solution won’t be palatable to him. Brent was a good boss, connected and made personal friendships with those he worked for and I doubt he could tolerate sticking around while the company was chopped up and sold in a fire sale.

The question is, what will get carved off, the radio, the TV or both and who will buy them?