It is no secret that James Packer and outgoing Channel Ten executive chairman Nick Falloon aren’t the best of friends.
James Packer is not and has never been a positive influence in TV. He has been sceptical about the future of FTA TV and print, enthusiastic about new media. He never wanted to stay in the old media, rejecting it for gambling.
The split up and sale of the bankrupt Canwest TV and newspaper interests is heading for the end game, The UK gears for unremitting post-election gloom and other business news.
Lenhan has announced plans to repay a lot of money, but it's a move likely to make the lawyers rich, the US job market may soon experience a spike, how food prices will affect inflation in the US, and more business briefs.
Natural disasters are going to have a big say in the fortunes of insurance companies, 26 more US banks have gone down the tube, China's exchange rate is steady as she goes, some encouragement in the latest US job figures and more business briefs.
There's a bunfight going on over Canwest's TV businness; US banks are still struggling, as is the property market; Ireland is still short of a quid; and the sherry is at the ready as the country waits for the latest economic figures.
The Aussie dollar's performance against the euro has snuck up, Greece is in deeper economic woe than anyone thought, Canwest has been thrown a lifeline and the Reserve Bank to speak in today's business wrap.
Surely there would never be an auction for control of one of Australia's most iconic media assets and no buyers turn up, right? Wrong. It's a watershed moment for Australian media.
The Ten Network is in the middle of some major changes with Macquarie Media and 81-year-old Bruce Gordon set to emerge as major shareholders. Seriously.
The Ten Network's struggling Canadian parent Canwest has announced it has won yet another extension (we've lost count) from its senior lenders on a deadline to come up with a recapitalisation plan.