5 May 2010

Increased loss reported by MediaWorks

10:06 am on 5 May 2010

The owner of TV3, MediaWorks, lost $314 million in the year ending August. The previous year's loss was $40 million.

Accounts filed with the Companies Office show that HT Media Holdings paid more than $91 million in interest alone.

Ironbridge borrowed heavily to buy Media Works at the height of the private equity boom in 2007

Ironbridge was last year restructured under a new company, GR Media.