Something died in the NSW Northern Rivers region today

The Sydney Morning Herald, 21 June 2016:

APN News & Media has sold its regional newspaper business to its own shareholder, News Corp, for $36.6 million.

APN's shares reached $4.90 on the news after opening at $4.61, after jumping 11 per cent on Monday following media speculation about the sale.  

The regional assets include 12 daily newspaper, 60 community newspapers and dozens of news websites. 

News Corp already owns a 14.9 per cent stake in APN, which is currently shedding its traditional media assets but keeping its radio and AdShel divisions.  

The deal still requires shareholder and regulatory approval. Regional mastheads include the Daily Mercury in Mackay, Bundaberg's NewsMail, The Gympie Times and the Sunshine Coast Daily. 

The Australian Regional Media division would be handed over in August provided all the hurdles were cleared.…..

Echo Net Daily, 21 June 2016:

Rupert Murdoch’s News Corp has signed a $36.6 million deal to buy APN News & Media’s Australian regional newspaper business, which includes The Northern Star and Tweed Daily News.

The deal – which is subject to approval from the Australian Competition and Consumer Commission, also covers the weekly publications, Byron Shire News, Ballina Advocate, the Lismore Echo and the Richmond River Examiner.

News Corp, already holds a stake of almost 15 per cent in APN, which means shareholder approval would also be required for what would be deemed a related-party transaction.

APN Australian Regional Media has a portfolio of 12 daily and more than 60 non-daily Australian regional newspapers.

Staff at the Northern Star and the other publications received an email just before 11am today confirming that the deal had been struck…..

The Australian, 20 June 2016:

News Corp, publisher of The Australian, has long been seen as the natural owner of ARM due to potential synergies with its regional business and the fact that few people know the assets better than News Corp executive chairman, and APN’s former boss, Michael Miller.

The Queensland focused portfolio includes 12 daily newspapers such as The ­Sunshine Coast Daily and The Gympie Times, and includes more than 60 non-daily and community publications.

The sale was outlined by APN in February as part of efforts to make a more aggressive move into the radio and outdoor advertising ­sectors. The price of the portfolio is understood to have fallen short of the $50m APN had been chasing.

News Corp, advised by Aquasia, already holds a stake of almost 15 per cent in APN which means shareholder approval would also be required for what would be deemed a related-party transaction…..

VALE MEDIA DIVERSITY

APN Australian Regional Media to remain with APN News & Media if demerger goes ahead but Murdoch circling regional mastheads

At the moment it appears that Australian east coast regional newspapers owned by APN News & Media will remain with APN if the proposed NZME demerger goes ahead.

The same applies if talks between Fairfax Media and APN result in a merger between NZME and Fairfax Media New Zealand.

However, these 100 regional newspapers and websites in Queensland and NSW  are still up for sale and the possibility that Rupert Murdoch’s News Corp will be the eventual owner of some or all of that stable remains.

The Australian, 9 March 2016:

News Corp, publisher of The Australian, is believed to be circling the regional community newspapers owned by APN News and Media, which called on Credit Suisse to ­divest the portfolio.

News Corp already owns a network of 111 local mastheads, some of which are believed to be highly lucrative, and sources said the company was taking “a good look” at the APN offering.

The company declined to comment yesterday.

News already holds a stake of almost 15 per cent in the company and counts APN’s former boss ­Michael Miller as its executive chairman. It is understood News had been approached by APN to look at the portfolio. Ciaran Davis was recently named as APN’s new chief executive…..

Sources have suggested that some of the publications would be closed if a buyer could not be found. However, deal-makers yesterday said the newspapers were a good acquisition prospect for an acquirer at the right price that could capitalise on synergies and cash flow.

The news comes with the expectation of increasing deal activity in the media sector, with companies already lining up advisers in anticipation of new laws being passed that will relax restrictions on how many viewers any one television broadcaster can access nationally.

Next time a News Corp newspaper tries to tell you that it has an independent editorial stance remember this.....

The Independent 21 April 2015:

Rupert Murdoch berated journalists on his tabloid papers for not doing enough to stop Labour winning the general election and warned them that the future of the company depended on stopping Ed Miliband entering No 10.

The proprietor of Britain’s best-selling tabloid warned executives that a Labour government would try to break up News Corp, which owns The Sun, The Times and The Sunday Times. He instructed them to be much more aggressive in their attacks on Labour and more positive about Conservative achievements in the run-up to polling day, sources told The Independent.

Mr Murdoch is understood to have made his views clear on a visit to London at the end of February, during which he met with senior Tories including the Conservative chief whip and former Times executive Michael Gove.

The News Corp boss, who has made no secret of his dislike of the Labour leader, told the editor of The Sun, David Dinsmore, that he expected the paper to be much sharper in its attacks on Labour……

Two days after Mr Murdoch’s visit the paper devoted a two-page spread to the election – with the left-hand page containing a 10-point “pledge” to voters written by David Cameron. The right-hand side of the spread was an attack on Ed Balls under the headline: “I ruined your pensions, I sold off our gold, I helped wreck [the] economy, Now I’m going to put up your taxes.”

It is understood that Mr Murdoch reminded executives that Labour would try to break up News UK, which owns The Sun, The Times and The Sunday Times. The party has suggested that no owner should be allowed to control more than 34 per cent of the UK media, a cap which would force News UK to sell one of the titles.

It has also pledged to implement recommendations in the Leveson report for an independent press regulator backed by statute, bitterly opposed by Murdoch. Mr Miliband has made “standing up” to Mr Murdoch over the phone-hacking affair a central plank in his attempts to persuade voters that he is a strong leader. A source said: “Rupert made it very clear he was unhappy with The Sun’s coverage of the election. He basically said the future of the company was at stake and they need to get their act together.”……

Give 'em a good fright for Christmas

Despite the Martin Place siege having no apparent links to ISIL or to terrorism generally, Rupert and Tony are doing their best to usher in Christmas with a scary tale or two…….

There are people who would do us harm and can do us harm 

[Prime Minister Tony Abbott during his latest Christmas news conference]

http://www.theaustralian.com.au/in-depth/terror/sydney-siege-copycat-attack-fear-as-terror-chatter-increases/story-fnpdbcmu-1227165693867

Meme of the Week