Feb 27, 2014

Media briefs: Oz losses… Sky on FTA … Tele v Press Council …

News Corp's vanity Australian newspaper has revealed exactly how much money it loses every year. It's not as much as Paul Barry had said on Media Watch, but the numbers are still staggering. Plus other media tidbits of the day.

Still big losses at the Oz. Last year The Australian lost, on average, $96,153 an issue. In a staggering admission to Media Watch, editor-in-chief Chris Mitchell has revealed the size of his paper’s losses. According to an email Mitchell sent Media Watch host Paul Barry, the Oz is on track to lose $15 million this financial year. Given earlier admissions that the paper has halved its losses this year, that means it lost $30 million in financial year 2012-13.

The newspaper has long been reported to be unprofitable, but this had (until this week) never been acknowledged by its management, with Mitchell in 2012 saying it made a positive contribution to News Corp’s bottom line. Yesterday’s admission comes after Media Watch quoted “industry insiders” as saying the paper lost between $40 to $50 million a year — a figure fiercely contested by Mitchell that has led to News Corp filing a complaint with the Australian Communications and Media Authority against the program.

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7 thoughts on “Media briefs: Oz losses… Sky on FTA … Tele v Press Council …

  1. Will

    It is standard practice to annualise from the last official business year, so $30 million a year is 33.3% wrong and 66.7% right. I don’t think any reasonable person would call it absurdly wrong, and particularly not given The Oz’s record of staggering hyperbole on figures around the BER and the NBN. If Mitchell’s title had a scintilla of integrity it might be different, but he can get stuffed for trying to play pedant with his form.

  2. klewso

    the Oz politics – editing reality.

  3. klewso

    SKY News – like FUX News – is like prescription medicine – you pay for it’s dosage to keep your ignorance and prejudices healthy?

  4. SusieQ

    Channel 9 is looking at a 24/7 news channel? Seriously? Does this mean it will actually start reporting real news, instead of the 22 minutes of waffle it produces each night?

  5. Brian Williams

    Glenn – you can’t seriously believe that anyone subscribes to Poxtel with Sky News as one of their main reasons for doing so!

    I’ve been a Pay TV subscriber since before the official launch of Galaxy (remember them), and was quite happy when they added BBC World News to their schedule after a few months. Sky News came much later, and while it was quite good in the early years, it’s metamorphosis into a Down Under version of Fox News has almost made it unwatchable in the last 2-3 years. BBC, AlJazerra and ABC News24 are all I need now for a balanced and informative view of the world.

    The idea that anyone with a brain would actually want to pay for the coalition-approved rantings of Kieran Gilbert, Peter Van Onselen, Chris Kenny and the verbally bumbling David Lipson et al is laughable. There’s a reason why Sky News is given away as part of the starter package at Poxtel.

  6. CML

    Re the Peter Slipper affair. It must have happened later in the day (after Crikey was published), but the dismissal of the Peter Slipper sexual harassment case has now been overturned on appeal.
    What the hell is going on in our courts? First we get a guilty verdict for Craig Thomson, which Independent Australia says goes against all the evidence presented in the case, and Thomson has been found guilty of offences with which he was not charged. (IA have covered the whole Thomson trial and been present in the court room all day, every day). Then yesterday, Ashby suddenly wins his appeal in the Slipper saga.
    Perhaps it is me, but why is this suddenly happening since we have a coalition government in Canberra? Given the harsh comments from the initial judge in the Ashby affair, (who dismissed the case out of hand), and the interference from the likes of Mal Brough, and others, in the whole sordid business, this is a very strange outcome.
    IMHO both of these judgments are questionable.

  7. klewso

    There is an up-side, CML, “Ashby” happened while Slipper was a member of the Limited News Party and he had Abbott’s public confidence.
    Remember that, I don’t think “Rupert” will.

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