Photo: RNZ/ Brad White
Auckland-based Canadian private equity billionaire has taken a more than 9.3 percent stake in media company NZME.
Jim Grenon is the founder of Calgary-based TOM Capital.
He has interests in the media publication, The Centrist, and its sister website NZNE.
Last week NZME reported a full year net loss after taking a non-cash writedown of $24 million on its publishing assets, along with a drop in underlying profit.
A number of high profile senior reporters will leave NZME's New Zealand Herald under its restructure to cut about 30 roles from the newspaper's editorial team.