\u201cI cannot truly explain my gratitude to the Wright family for what they have done for journalism and me personally over the past four years,\u201d Plunket said.<\/p>\n
\u201cTheir courage, particularly that of deeply missed Chloe, and their commitment to the principles of free speech and editorial independence have been vital in establishing The Platform as a source of robust and open debate in New Zealand society.\u201d<\/p>\n
Businesswoman and philanthropist Chloe Wright – the wife of Wayne Wright snr – died in September 2023.<\/p>\n
\u201cWe have moved to the next chapter,\u201d Plunket told Media Insider. \u201cThey were always in it to get me set up… and move on to other things they are expert at, and good at doing.<\/p>\n
\u201cIt\u2019s a private transaction between me and the Wrights, but we part as very good friends.\u201d<\/p>\n
The Platform host and now 100% shareholder Sean Plunket. Photo \/ Supplied<\/p>\n
The Platform was established in September 2021, backed by the Wright Family Trust. <\/p>\n
The trust ended its start-up funding arrangements in March – at the same time, Wayne Wright jnr personally purchased the trust\u2019s shares. Until this week, he owned 75% of the company through related parties, with Plunket owning the other 25%. <\/p>\n
Wright told Media Insider today that the investment over the past four years stemmed from a mix of business opportunity and \u201calso an ideological view that the New Zealand media landscape needed a bit of a shake-up\u201d.<\/p>\n
Plunket said in a statement that The Platform was set up \u201cduring dark times in New Zealand journalism\u201d, asserting \u201cthe state exchanged control of public narrative for cash and public confidence in media integrity was at all-time lows\u201d.<\/p>\n
The Wright family\u2019s funding had helped The Platform move from an initial start-up phase to a \u201cself-sustaining media company\u201d.<\/p>\n
Wright and Plunket said in July that The Platform now operated on advertising and subscription revenue, donations and merchandise sales, although both spoke of the challenges in the current media landscape.<\/p>\n
\u201cI would have to say that as a business, it\u2019s walking a very fine line,\u201d Wright said in July. \u201cIt\u2019s a tough industry… We struggle month to month, but we have survived on our own, if you will, since March.\u201d<\/p>\n
Wright said today that it had dawned on him, especially over the past year, that the media industry was a high-risk, low-yield space.<\/p>\n
\u201cAs we look at the state of The Platform now – and it is bubbling along as self-sustainable – it\u2019s pretty clear that for it to advance in this industry, it\u2019s going to need additional investment for brand recognition, product range, content range, perhaps the range of hosts that it has. <\/p>\n
\u201cAnd we\u2019re just not prepared to do the additional investment that it takes to do that… and so if I remained as a majority shareholder, or more broadly, if the Wright family remained with a financial interest in The Platform, it really cuffs Sean\u2019s hands in being able to bring on new investment. <\/p>\n
\u201cHowever, with him owning 100% of it, he can now be in a much stronger position to give away or sell parts of that ownership for investment. It was really a strategic decision based on the best opportunities for The Platform to grow.\u201d<\/p>\n
Wayne Wright Jr. Photo \/ Supplied<\/p>\n
Plunket said in his statement that the work was not finished. \u201cIt remains important that The Platform expand its range of content and brand awareness, and this will require further investment.\u201d<\/p>\n
Plunket said he would \u201cexplore additional investment opportunities; unfettered by the Wright family majority ownership and financial governance\u201d.<\/p>\n
Wright said of all of his business investments and commercial projects, The Platform had been \u201cby far the most exciting, entertaining, [and] greatest learning experience\u201d.<\/p>\n
It had also given him \u201cthe greatest access to other decision makers and leaders\u201d.<\/p>\n
\u201cThis has been a great ride. I think Sean and I made a really good team, between my commercial experience and his obviously extensive journalism experience.<\/p>\n
\u201cI think we\u2019ve been a really good team in getting a company off the ground that a lot of our early critics said would never last.\u201d<\/p>\n
That included, he said, getting it to a point where it was a real company that employed people. \u201cIt\u2019s not just Sean in his living room giving a podcast.\u201d<\/p>\n
Plunket said the company had about eight fulltime staff, as well as some part-timers. Other hosts include Michael Laws and Leah Panapa. <\/p>\n
The Platform host Leah Panapa.<\/p>\n
The Platform in the spotlight<\/p>\n
The Platform has endured a fair share of controversy, sometimes arising from the social media comments of Plunket himself.<\/p>\n
He found himself the subject of a backlash in some quarters following a social media post on X in July in which he wrote, \u201cI\u2019m really concerned about the mass outbreak of anorexia in Gaza.\u201d<\/p>\n