CanWest MediaWorks New Zealand posts revenue gains

WINNIPEG – CanWest Global’s New Zealand operations saw a 4% increase in consolidated revenues in the first quarter of this fiscal year, the company announced. It has a 70% stake in CanWest MediaWorks, whose consolidated revenues rose to NZ$73 million in the three months ended Nov. 30, from NZ$70 in the same quarter last year. Earnings before interest, taxes, depreciation, and amortization, however, fell 11% to NZ$24 million, mainly because of increased spending on television programming. The company anticipated decreased EBITDA when it reported annual results in October. The broadcaster decided to air more local programming on its flagship TV3...