Monday’s announcement of a $4.1m share purchase comes after the NZME director purchased $6.1m worth of shares in August.
NZME union delegates will meet with Grenon later this week to discuss his plans for the NZX-listed company.
The deal is about growth, but the market was unimpressed and James Hardie shares plunged 13%.
The milk processor reports a positive half year result.
Canadian billionaire says he has had very little involvement in politics and labels the Herald ‘a business in decline’.
NZME has released the letter Jim Grenon shared with the board on March 6, in which he outlined mass cost cutting and a shift in editorial focus.
However, he says competition from Panda Mart was not related to the closure of Pakuranga’s Warehouse.
But those discussions, ongoing since late 2024, have now been paused by Stuff amid Jim Grenon’s move to spill NZME’s board.
Mark Lister of Craigs Investment Partners says management and board have clearly not assuaged investors’ concerns.
Kiwi businessman Andrew Griffiths has also had his assets frozen by the High Court as he faces fresh proceedings.