PHOTO: OneRoof
Rumors are gaining momentum that OneRoof, NZME’s real estate platform, could soon find itself on the auction block. This speculation follows NZME’s annual results announcement, where the company revealed it was exploring options for the potential sale of OneRoof. The news has sparked chatter among investors and industry insiders, with many pointing to the potential for greater value if the real estate platform were separated from NZME’s other media assets.
Industry expert Greive has weighed in, suggesting that OneRoof’s proximity to NZME’s “legacy media” operations may be holding it back. According to Greive, the synergy between the two businesses might be more of a hindrance than a help. “If OneRoof were pulled out and operated independently, both entities could end up being more valuable on their own,” he said.
The idea has also stirred conversations about NZME’s shareholder base. Greive noted that institutional investors who hold significant shares in NZME might not share the same enthusiasm for the company’s editorial direction as CEO Michael Grenon. However, he believes these investors would be far more captivated by the potential sale of OneRoof.
Greive even floated a possible scenario: Grenon could propose retaining the publishing side of NZME at a reduced valuation, allowing for OneRoof to be spun off. “From a pure value realisation and shareholder maximisation perspective, that would make sense to me,” Greive shared.
The speculation comes at a time when the real estate market is under intense scrutiny, and platforms like OneRoof continue to play a vital role in connecting buyers, sellers, and agents. While nothing has been confirmed, the mere prospect of a OneRoof sale is enough to pique the interest of investors keen to tap into the digital property platform’s potential.
As this story develops, all eyes will remain on NZME and OneRoof. Will the real estate platform be unshackled from its media origins and positioned for standalone success? Only time will tell.