Paramount Australia & New Zealand

Viacom is now a separate company

30 posts were merged into an existing topic: Network Ten post-CBS

Disgruntled Ten shareholders are looking to initiate a class action against Ten, with the Australian Shareholders Association also considering legal action and asking what can be done by treasurer Scott Morrison, in his capacity as the final arbiter on foreign investment, to get some compensation for shareholders. The issues are that the CBS proposal leaves the current shareholders with nothing, whereas the Gordon-Murdoch proposal would have given shareholders 1/4 of their existing holdings. There is also concern about the lack of information from the Ten board and administrators, and the way that Ten went into administration.

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That’s the risk one takes when trading on the stock market. If every company that went under had a class action suit then there would probably be no stock market. There is no guarantee that anyone is going to make money from shares and you take that risk on board when you purchase. Previously I held around $1000 worth of Ten shares and got out when it was worth around $700. That’s my loss and had I held my ground I would have had nothing. But I’m not going to whinge and whine that I lost value…it was my risk in the first place and I am lucky I got out when I did.

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Exactly, it’s a fucking media stock. What were people expecting? 20% growth in the 3rd rated television network in 2017?

Never invest in media.

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A great read if you can get it

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hehee. :stuck_out_tongue: So deliciously happy…

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There’s an old saying: “the only way to make a small fortune in the media is to start with a big one.”

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Not surprised by the mention of “Nine’s and Seven’s former boss David Leckie”.

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:hugs:

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From that article:
The merger of Foxtel’s and Ten’s sales force into MCN was for nil. The rationale for News Corp’s full ownership of Sky News – to replace Ten’s news division – is in ashes, as is Fox Sports’ joint-bidding for broadcast rights, in some cases an anti-siphoning workaround. For News Corp, its executive co-chairman’s personal own goal is an unmitigated debacle.

Read more: After the crash, Lachlan Murdoch hands Ten to CBS
Follow us: @FinancialReview on Twitter | financialreview on Facebook

Brilliant analysis!

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Imagine Leckie swooping in and using all the CBS money to turn Ten around. He has probably been bored of late and would like a cashed up ten to play with.

That article was spot on. If Grant Blackley was still there and the strategies they had put in place ten would;ve grown as a media company instead of collapsing in a heap.

And Murdoch/Gordon forcing the board’s hand has back fired big time.

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Can’t read the article, is there a way to get around the paywall?

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Google the headline and you’re in like Flynn.

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Google it and you will access the cache version.

Here is another good article which shows how much Gordon and Murdoch stuffed up and shows how ten dodged a bullet in a tie up with News …plenty of job losses:

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For all of Murdoch’s faults, It was Blackley and his news revolution that was a complete and utter disaster that did massive damage to Ten News and the network. Had they continued with Evening News and George Negus they would’ve gone bankrupt years ago.

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The strategy was good but the execution was disappointing. New management didn’t know what to do with it.

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I actually disagree with that. I think that if they actioned the news evolution in stages, rather than in a massive hit - they could have made it work. But when new management was brought in soon after the news evolution began they didn’t allow enough time for the changes to set in.

I think that if you are going to take such a massive risk with launching a different product, you need to give it time to settle in and then build on from there. By the end of 2011 (if I’m not mistaken) - everything was gone again.

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Wrong.

Your judgement is clouded by infatuation with the Simpsons.

It was a long game… to set up ten as a diversified and multi platform media company. Seven and nine ended up copying the strategy in their own similar way.

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Finally someone from a news corp subsidiary saying that CBS buying ten is good for the th industry.

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