IIRC Murdoch had to sell of his Australian FTA media assets when he moved to the US in the 80s.
Rupert is an American citizen. He couldnât own American assets if he wasnât. Anyway I really donât care what nationality the Murdochs are, News Corp is a revolting company. Sky News is a big enough blight on our society with their lies wrapped up as opinion already without expanding further, not to mention their rubbishy newspapers.
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To me the constant crap about death to Foxtel/News Corp etc⌠here is just as bas as the people banging on about how left leaning the ABC is from people. If you donât like Sky News, donât watch it! Yes, itâs crap. We know itâs crap. Yes, they hype up a lot of BS and people believe it but even without Sky News these same people believing it all will still have their other outlets for getting their chemtrail, flat earth, climate change, Trump loving news and information from elsewhere. It sucks but thatâs the way it is just as many of the ABC lovers go full on down those paths.
Anyway, I donât see that these days a 10 / Foxtel tie up is as bad as people make out. 10 is struggling, Foxtel is struggling. If either or both collapse who loses? The Australian people and the entertainment industry because that is a lot of people out of work and a lot less Australian programming being commissioned.
Ten can easily be something like the Sky Open in NZ showcasing many of the things from Foxtel e.g. stuff from the Lifestyle channels, Gogglebox, dramas, WWE, SkyNews news bulletins.
They can have multichannels so they can have their SkyNews which is already available to the regional people broadcasting so people can ignore it but they can also have say the weather channel as well and they could have a sports channel showing sports that they can broadcast on FTA - is MLB and other things like that allowed? While that wonât be as lucrative as AFL or NRL obviously, it can bring more exposure to some things and push people to Kayo/Binge etc⌠and help two struggling companies survive as 1 company and keep the industry going.
Would they be able to get around the AFL or NRL part by say delaying the games on a FTA channel or would that not be allowed at all? Guessing the latter but just floating the idea for things.
Either way, I know people want the entire company to shrivel up and die because of Murdoch but how many thousands of people does that put out of work from the newspapers to the TV and how much of a hole will that leave for up and coming entertainment industry people who get their exposure or starts from either these shows or newspapers?
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If Seven was a worst position and ratings struggle rather than 10 maybe Foxtel would be the network to promote Foxtel content
Itâs a shame 7 or 9 arenât allowed to buy 10. Surely the government is eventually going to have to re-examine that law?
NO! Just No! Both are the ârusted onâ viewer stations mostly showing crap. As much as I hate News Corp, (the American company) I would prefer them to buy 10 than 7 or 9, If any of the 3 options happened however, itâs goodbye 10 from me!
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I cannot see SCA buying 10. They are not interested.
Lol⌠donât get me wrong, Iâm not defending 7 or 9 (I think theyâre shit as well). But itâs probably better than Channel 10 closing altogether.
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I donât know what the value would be - multi channels (and streaming) have removed any legacy advantage holding two primary licences would have.
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Well-articulated.
As much as I cannot stand the angertainment business model that is Sky News Australia and NewsCorp in general, who else would buy Network 10? Bruce Gordon too tied up with Nine these days.
The loss of jobs across the wider production industry if both Foxtel and 10 go bust is too horrible to think about.
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Economies of scale? As poor as 10âs ratings are, Iâm sure they still easily beat, say, 7Two or NineGo. But this is all academic, I guess.
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Meanwhile, in the US⌠
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Nothing is ever really finalised is it.
Paramount expected to get 45-day window to shop for better offers
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The deal is reportedly approved by the Paramount board.
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Will be interesting to see the detail in coming daysâŚ
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News Release
Skydance Media and Paramount Global Sign Definitive Agreement to Advance Paramount as a World-Class Media and Technology Enterprise
LOS ANGELES and NEW YORK, July 07, 2024 (GLOBE NEWSWIRE) â Skydance Media (âSkydanceâ) and Paramount Global (NASDAQ: PARA, PARAA) (âParamountâ) today announced that they have entered into a definitive agreement to form âNew Paramountâ â a next-generation media and technology leader, through a two-step transaction including the acquisition of National Amusements, Inc. (âNAIâ), which holds the controlling share stake in Paramount, and subsequently a merger of Skydance and Paramount Global.
Ellison Family and RedBird Capital Partners to Invest Over $8 Billion i n New Paramount and to Acquire National Amusements, Inc.
Paramount Class A Stockholders to Receive $23 Per Share in Cash/Stock Election, Class B Stockholders to Receive $15 Per Share in Cash/Stock Election; Cash Consideration Available to Public Shareholders Totals $4.5 Billion
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Next generation leadership team to take helm, led by David Ellison as Chairman and Chief Executive Officer, and Jeff Shell as President; Skydance plans to enhance and reinvigorate marquee Paramount and CBS brands
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New Paramount will be a creative-driven destination for storytellers dedicated to delivering top-quality content
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Paramountâs premier content platform to be enhanced and powered by best-in-class technology and modernized infrastructure offering scalability and ingenuity focused on delivering content through wholly-owned DTC platforms of Paramount+ and Pluto while enhancing CBS and Paramountâs linear networks
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Ellison team plans to reposition Paramount to improve profitability, foster stability and independence for creators, and enable more investment in faster growing digital platforms
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Skydance will merge with Paramount in an all-stock transaction, valuing Skydance at $4.75 billion; Skydance equity holders will receive 317 million Class B Shares valued at $15 per share
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Skydance Investor Group, comprised of the Ellison Family and RedBird Capital Partners, to invest $2.4 billion to acquire National Amusements for cash and $4.5 billion for the stock/cash merger consideration to be paid for publicly traded Class A shares and Class B shares, as well as $1.5 billion of primary capital to be added to Paramountâs balance sheet
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Post transaction close, Skydance Investor Group will own 100% of New Paramount Class A Shares and 69% of outstanding Class B shares, or approximately 70% of the pro forma shares outstanding
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The per share cash election amount to be offered to Paramountâs stockholders represents a 48% premium to the price of the Class B stock as of July 1, 2024, and a 28% premium to the Class A stock on the same date. By continuing to own shares of the newly combined company, Paramount Class B stockholders will have the opportunity to participate in New Paramountâs long-term value creation potential
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Skydance and Paramount to host investor call at 8:30 a.m. Eastern on July 8, 2024
From CBS News
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