Fun fact - there is a Bruce Gordon on the board of directors of CBS Corporation.
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Bruce Gordon, Lachlan Murdoch, James Packer and Gina Rinehart have lost a combined $1 billion on their investment in Ten, with now no way of recouping it. The three gentlemen are supposed to get a consolation prize of a few million as a thank you for going guarantor on the Commonwealth Bank line of credit, but it will not go anywhere near making up for their losses. How can Rupert have any faith left in Lachlan now that he has burned through the companyâs cash with Foxtelâs investment in Ten, along with Lachlanâs own investment, coming some years after the One.Tel disaster.
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From the SMH, calculating that CBS will pay $123 million.
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Well that just shows you why the media laws shouldnât be changed and we shouldnât have the same players owning everything across many mediums. Murdoch and Newscorp will be fuming now.
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OR the misleading Newscorp articles were just part of their ongoing strategy to put pressure on politicians to pass changes to media laws asap.
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Yes. Thatâs precisely my point. This is happening way too often with that mob and they always seem to get their way. These recent moves have certainly backfired on them.
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(I was being sarcastic; Iâm definitely not a fan, especially of the 11 logo, but Bruceâs are of course so much worse)
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Cbs has got ten for an absolute steal. To get 5 tv licenses plus all the infrastructure at ten including 5 newsrooms for under 200 million is a bargain. Thur can now invest in new management and content.
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So Murdoch & Gordon tried to drive Ten down to set themselves up as its saviours but instead gave CBS a nice discount.
9News.com.au has a negative slant on the CBS deal:
Some of it is really stretching it - stuff predicated on things being removed from the anti-siphoning list, which is up to the federal politicans - but this is interesting (and hopefully overly negative):
The University of Technology Sydneyâs Account Discipline Groupâs Professor argued CBS will be looking to slash costs as they take over the struggling Ten Network.
âQuite simply, CBS are already providing content and they want to protect their ability to broadcast their content on Ten. And theyâre going to try to incur as little costs as they can in Australia. So theyâre going to cheapen up Ten,â he said.
âItâs going to mean a lot less local â subject to content requirements.â
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Iâm not going to pretend I know much about business and finance, but clearly some here do.
So whatâs this mean for Foxtel, shareholders, etc?
Itâs a University Prof, donât put too much weight in his opinions.
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Lmao sucked in News Corp. Dadâs gonna be real mad at you Lachlan.
Think CBS realise the brand equity of Ten in their statement, put your CBS10 EVENINGEYEWITNESSNEWS fantasies away.
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No problem whatsoever. Australians will continue to pay $150 a month for linear cable broadcasting forever so thereâs absolutely no issue at all.
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this woman from some research mob was on the news saying that there wonât be much change for viewers as âTenâs shows rate really well.â
What. The. Fuck?
Where?
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[Citation needed]
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It hasnât been 12 hours yet and CBS has already commissioned a new drama for Ten:
HOUSE OF GORDON is the story of a classic romance between a geriatric billionaire media mogul Bruce and the son of a geriatric billionaire media mogul Lachie, which goes painfully wrong when the deal they both brokered falls through. Desperate and confused, Bruce shoots Lachie dead before jumping out the window of his 3-storey Bermuda mansion to his demise. Starring Asher Keddie somehow. Unavailable in regional areas.
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Incredibly surprised at this decision. I am so happy that WIN is not expanding into metro areas and that we donât have NewsCorp taking it over.
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