Will Northern Rivers residents be able to believe what they read in many local newspapers in 2017?

Rupert Murdoch and News Corp own The Wall Street Journal.

According to @TerrySerioThe Wall Street Journal on the left was circulated in New York, while the one on the right was circulated in Texas, USA.

Murdoch and Newscorp now own The Daily Examiner, The Northern Star, Coastal Views, Northern Rivers Echo, Ballina Shire Advocate, Byron Shire News, Tweed Daily News and Rural Weekly which circulate in the NSW Northern Rivers region.

How reliable will the news content of these newspapers be in 2017?

Australian Competition & Consumer Commission (ACCC) final decision on the proposed sale of APN News & Media regional newspapers to News Corp due on 8 December 2016

The proposed date for announcement of the Australian Competition & Consumer Commission (ACCC) final decision on the proposed sale of APN News & Media regional newspapers to News Corp is 8 December 2016.

Consideration of the sale is occurring against this backdrop………

Financial Review, 8 November 2016:

News Corporation will rip $40 million in costs out of its Australian publishing arm in 2016-17, some of which will come from job cuts, as the Rupert Murdoch-controlled company deals with falling advertising revenue and a shift to digital.

Advertising revenue at News Corp Australia fell 11 per cent in local currency in the first quarter, which was relatively similar to the same period last year, News Corp chief financial officer Bedi Singh told investors on Tuesday morning during the company's financial results call.

Circulation revenue increased on a local and reported currency basis. News Corp reports in US dollars.

"While we continue to benefit from the cost-reduction program that News Australia announced in the second half of fiscal 2016, which totalled around 5 per cent of the cost base, we are now embarking on further cost initiatives," Mr Singh said.

"We expect an additional Australian dollar $40 million in cost savings this fiscal year while we continue to push digital initiatives more broadly."

It is understood that these costs will come across the local business and will include redundancies. News Corp's Australian publications include The Australian, The Daily Telegraph and The Herald Sun. News Corp shares finished Tuesday 1.3 per cent higher at $16.11 in local trade.

It comes as News Corp has begun offering redundancies at The Wall Street Journal and is planning for $US100 million ($130 million) in annual savings by the end of 2017-18.

Proprint, 24 November 2016:

Less than two weeks after it announced a company-wide cost slashing strategy, News Corp Australia has started canvassing the idea of voluntary redundancies to its staff, encouraging those interested to put their hands up before its redundancy programme begins.

Industry union Media Entertainment and Arts Alliance (MEAA) says it is aware News Corp management had begun gauging staff interest in redundancies.

The inevitable job cuts are a by-product of News Corp’s slowing advertising revenue, which forced the publishing giant to push its $40m cost saving strategy to staff.

In a response to News Corp’s redundancy agenda, the MEAA says it has rallied behind affected editorial staff, and had previously made an effort to ensure forced redundancies are not on the cards.

“MEAA has called on News Corp Australia to confirm that there will be no forced redundancies as part of its latest round of cost savings measures. It is particularly frustrating that the announcement of the redundancies came within hours of voting opening for a new enterprise bargaining agreement negotiated between News Corp and MEAA members over many months – with the company’s management never once indicating that further job losses and cost savings measures were imminent,” the MEAA states.

The Australian, 12 September 2016:

News Corp’s planned acquisition of APN News & Media’s Aust­ralian Regional Media newspaper business will result in up to 300 job losses as back office synergies are sought to secure the future of ­quality journalism in the affected ­regions.

The cuts are expected to be implemented over an initial phase, provided the deal is approved by shareholders and the competition watchdog, and a subsequent round of cost cuts once News Corp has had more time to assess the ARM operations across regional Queensland and northern NSW.

However, there are no plans to shut ARM titles, which ­include The Gympie Times, The Chronicle in Toowoomba and the Ballina Shire Advocate, provided they remain profitable…..

ARM recorded a 42 per cent drop in earnings before interest, tax, depreciation and amortisation to $3.4m for the six months ended June 30, on revenues of $89m, which were down by 6 per cent.

APN announced its ARM sale plans in February as part of its ­efforts to focus its business on the more lucrative radio and outdoor advertising sectors.

News Corp should benefit from picking up extra printing plants. It distributes The Australian and The Courier-Mail throughout Queensland from presses in Brisbane and Townsville. The acquisition included presses in Yandina, Warwick and Rockhampton, which will cut the distribution costs, although APN closed a printing plant in Toowoomba last year.

The ARM newspapers were ­divested by News Corp as part of its acquisition of The Herald & Weekly Times group in 1987.

ACCC to rule on News Corp's planned purchase of APN News & Media regional print and online newspapers by 29 September 2016

The Australian Competition and Consumer Commission (ACCC) is currently  investigating the proposed acquisition of APN News & Media Limited (APN)'s Australian Regional Media division (ARM) by News Corporation (News) – with the aim of establishing what if any the impact of the proposed acquisition will have on on competition, and whether it will: lower the quality of content, especially local news content; reduce the choices available to readers for local news content; increase newspaper prices and/or increase the price of advertising, especially in newspapers in Queensland and northern New South Wales.

As to lowering the quality of content, especially local news content or reducing the choices available to readers for local news content – well that horse was out the stable door in a flash once Murdoch had acquired the largest single shareholding in APN News & Media.

This will be the extent of News Corp’s print and online stable once the ACCC signs off on this $36.6 million sale:

The acquirer – News Corporation

News Corporation (News) is a global diversified media and information services company with businesses in news and information services, digital real estate services, book publishing, digital education and, through its investment in Foxtel Management Pty Limited, subscription television.

 In Australia, News, through various indirect, wholly owned subsidiaries, publishes a number of state, regional and community newspapers as well as The Australian.

It also publishes various websites associated with its newspapers as well as news.com.au. News publishes the following paid print newspapers in Queensland and northern NSW:

· The Courier Mail, published daily Monday to Saturday, while the Sunday Mail is published on Sunday

· Gold Coast Bulletin, published daily Monday to Saturday

· Townsville Bulletin, published daily Monday to Saturday

· Cairns Post, published daily Monday to Saturday (published as the Weekend Post on Saturdays)

News also publishes the following community newspapers:

· through Quest Community Newspapers, 13 free community newspapers circulating in various parts of greater Brisbane as well as Brisbane News, a glossy free magazine distributed to inner city Brisbane. The 13 free community newspapers are:

o Albert and Logan News o Caboolture Herald o Pine Rivers Press/North Lakes Times

o Redcliffe & Bayside Herald

o City North News o North-West News

o Northside Chronicle

o Westside News

o South-West News/Springfield News

o City South News

o South East Advertiser o Southern Star

o Wynnum Herald

· through Sun Community Newspapers, the free newspaper The Gold Coast Sun, in four localised editions:

o Gold Coast Sun Upper North

o Gold Coast Sun North o Gold Coast Sun Central

o Gold Coast Sun Tweed / Southern 4

· a number of small community publications circulating in Cairns and surrounds including The Tablelands Advertiser, The Tablelander, Innisfail Advocate and the Port Douglas & Mossman Gazette

· the Bowen Independent, a paid newspaper published twice a week, and a number of other small community publications in Townsville and surrounds including The Herbert River Express, The Northern Miner and The Burdekin Advocate. News also publishes the Weekly Times, a paid newspaper distributed predominantly in rural Victoria and the Riverina region. A small number of copies are also distributed in Queensland and NSW.

News also publishes or has an interest in a range of online publications including the following:

· News.com.au

· Carsguide.com.au (48.95% interest)

· Realestate.com.au (majority interest)

· Careerone.com.au (25% interest)

News, through a wholly-owned subsidiary, also has a 14.99% interest in APN......

The target business – ARM

The target business – ARM The ARM business comprises:

· 12 paid daily, 14 paid non-daily and 32 free non-daily, community newspapers circulating in various parts of south-east and regional Queensland and northern NSW

· 14 specialist print newspapers including 'seniors', 'agriculture' and 'big rigs' titles · 4 specialist business-to-business magazines for the education and health care sectors

· 60 websites including masthead websites, websites for the specialist print newspaper titles, other websites not linked to a print title and classifieds website finda.com.au

· printing facilities located in Yandina, Warwick and Rockhampton in Queensland. A full list of ARM’s print publications is set out below:

North Queensland (Mackay region)

· Daily Mercury

· The Midweek 5

· Whitsunday Times

· Whitsunday Coast Guardian Central Queensland

· The Morning Bulletin

· The Observer

· Capricorn Coast Mirror

· Central Telegraph

· Central Queensland News Wide Bay Burnett

· NewsMail

· Fraser Coast Chronicle

· The Gympie Times

· Guardian

· Isis Town & Country

· Central & North Burnett Times

· Hervey Bay Observer

· The Maryborough Herald

· Cooloola Advertiser

· Hervey Bay Independent

South-East Queensland - Sunshine Coast

· Sunshine Coast Daily

· Sunshine Coast Sunday

· Noosa News

· Coolum & North Shore News

· Maroochy Weekly

· Kawana Weekly

· Caloundra Weekly

· Nambour Weekly

· Buderim Chronicle South-East Queensland (Greater Brisbane and Ipswich)

· Caboolture News

· Bribie Weekly

· The Logan Reporter

· The Satellite

· Bayside Northern Suburbs Star

· The Queensland Times

· The Ipswich Advertiser South-West Queensland

· Warwick Daily News

· The Chronicle

· Stanthorpe Border Post

· Dalby Herald

· Gatton, Lockyer and Brisbane Valley Star

· Laidley Plainland Leader

· South Burnett Times

· Southern Downs Weekly 6

· Balonne Beacon

· The Western Star

· Western Times

· Chinchilla News and Murilla Advertiser

Northern NSW (Gold Coast, Tweed and northern NSW)

· Tweed Daily News

· Tweed Daily News – Community Edition

· The Northern Star

· The Daily Examiner

· The Woolgoolga Advertiser

· Byron Shire News

· Ballina Shire Advocate

· Lismore Echo

· The Richmond River Express Examiner

· Coastal Views

· The Coffs Coast Advocate

Specialist publications

· Surat Basin News

· Rural Weekly (five editions, including a Northern Territory edition)

· Big Rigs

· CQ Industry

· Style Magazine

· Seniors Newspaper (eight different editions distributed in South-East Queensland and NSW)

· APN Educational Media publications (business-to-business publisher of Education Review, Nursing Review, Aged Care Insite and Campus Review

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

Clarence Valley Council caught trying to minimise IPART's rejection of much of its special rate rise application

Readers of North Coast Voices may recall that this blog posted on this subject in April and May this year.

The rate rise saga  refuses to die………

The Independent, 8 June 2016:

Councillor Karen Toms will challenge public statements made by Clarence Valley’s mayor, Richie Williamson, regarding IPART’s decision to grant Clarence Valley Council (CVC) a one-year-only special rate (SRV) increase of 6.5 percent, instead of 6.5 per cent for each of the next five years.

Councillor Toms’ motion of notice (NOM), which was forwarded to “all senior staff and councillors” on Friday June 3, recommends that: “Council receive and adopt the Independent Pricing and Regulatory Tribunal’s (IPART) Local Government’s Determination of Clarence Valley Council’s application for a special rate variation for 2016-17”; …, and “declare that the other reasons attributed to the Mayor Cr Williamson are not claims adopted or endorsed by Clarence Valley Council”.

“Unfortunately,” Cr Toms said, she had “not given enough notice to the general manager” to table the NOM at the June 14 Works, Civil and Corporate Committee meeting.

The council’s code of meeting practice requires seven working days’ notice, however, the Queen’s Birthday holiday on Monday June 13 means that Cr Tom’s NOM only gave six working days’ notice.

“The general manager has accepted the NOM for the July works civil and corporate meeting on July 12,” she said.

The meeting code states that the full seven days is required, “except in circumstances of great urgency or in the case of rescission motions”.

Councillor Toms writes in her NOM: “Mayor Williamson is quoted as saying in the Daily Examiner: “… while the council had consulted widely when it was proposing an 8 per cent increase for five consecutive years, IPART had said it did not consult the community enough once the proposed increase was changed to 6.5 per cent.

“Additionally, the Mayor is interviewed on NBN TV and made the following claims: ‘…We consulted with our community on an 8 per cent increase. Council resolved to apply for a six and a half percent increase and IPART have said to us, well you haven’t consulted on the six and a half percent; which we accept.’

“These statements by the Mayor are considerably at odds with the determination IPART published, in particular at odds with 2 criteria provided by IPART as reasons for refusal.”

The criteria state that CVC “did not demonstrate the need for, and financial impact of, the proposed rate increase in its Integrated Planning and Reporting (IP&R) documents; and, the council did not adequately make the community aware of the extent of the rate increase, as the cumulative impacts were not communicated effectively.”

Citing a letter written to Clarence Forum’s convenor John Hagger, by IPART’s principal analyst, Tony Camenzuli, Cr Toms writes that Mr Camenzuli “specifically” refutes the “reason for refusal stated by Mayor Williamson”.

“The statements by the Mayor have the effect of reducing the importance of the IPART determination and serve to mislead the public as to the clear intent of the IPART criteria,” she writes.

“Council has not ‘accepted’ or adopted in any way the reason given by Mayor Williamson as the IPART reason for refusal. In saying that ‘which we (Council) accept’, Mayor Williamson creates a false impression of the council response to the determination, noting that Council has adopted, nothing in response to the determination.”

Mr Camenzuli’s letter states: “IPART’s report does refer to the council’s decision to reduce the size of the special variation from 8% pa (47% cumulative) each year over five years, to 6.5% pa (37% cumulative) over five years (pages 5, 16).

“This decision by the council was noted as background information.

“The report does not make reference to that decision by the council as a reason for the council’s special variation application not being approved in full.”

The Clarence Valley Independent is the only newspaper left in the Clarence Valley which is not part-owned by News Corp - please show your support for media diversity and this little weekly newspaper (delivered to the door free of charge) by occasionally clicking on to read its top stories online at: http://cvindependent.com.au/.

Social media, advertising, trust and dollars

Excerpt from the Australian Newspaper History Group Newsletter No. 87 May 2016:

87.2.1 Reach and effectiveness of social media

British marketing and branding specialist Mark Ritson will give a series of lectures to the Australian Association of National Advertisers that will challenge some thinking about the reach and effectiveness of social media over established media platforms, such as print. Professor Ritson, who is head of Marketing at Melbourne Business School, will conduct four talks over six dates in Sydney and Melbourne, from 24 May. His first lecture is titled "Marketing Deconstructed: Communications – the death of the digital/traditional divide". Prof Ritson believes the likes of Twitter, Facebook and Instagram are over-rated by some marketers, who choose to ignore the proven engagement of traditional media. Prof Ritson says the belief in social media as an advertising platform has become fashionable among some marketing executives who blindly denigrate television and print. To back his position on the strength of traditional platforms, Prof Ritson cited data from Nielsen's global trust in advertising survey published last September. The report showed 63 per cent of people trusted TV advertising, and 60 per cent trusted print ads, but only 46 per cent trusted ads served on social networks (TheNewspaperWorks, 18 March 2016).

87.2.2 Online advertising nears $6bn

Australian online advertising spending climbed to $5.9 billion in 2015, a 24 per cent increase from calendar year 2014, according to the latest Interactive Advertising Bureau/Pricewaterhouse Coopers Online Advertising Expenditure Report. The fourth quarter report is a significant result for the online advertising industry which has achieved double-digit growth of at least 20 per cent since 2010. The report examines advertising expenditure across five advertising categories, each of which experienced significant year on year growth:

 Mobile grew 81 per cent this year to $1.5 billion

 Video grew 75 per cent to $500 million

 General display grew 46 per cent to $2.1 billion

 Classifieds grew 22 per cent to $1.1 billion

 Search and directories grew 14 per cent to $2.8 billion.

Outgoing chief executive of the IAB Alice Manners said, "When the IAB first started recording online ad expenditure in 2003 it was at $1.3 billion and today we are poised to break the $6 billion barrier," she said.

National Indigenous Times to be revived

Australian Newspaper History Group, Newsletter, No 86, February 2016:

86.1.9 Revival of National Indigenous Times to be attempted

Aboriginal businessman Wayne Bergmann has taken control of the collapsed National Indigenous Times, with the aim of transforming it into a newspaper that celebrates indigenous achievement in business, politics and sport. A company majority-owned by Bergmann has bought the paper from liquidators and is expected to relaunch it within weeks. Veteran Perth journalist Tony Barrass will become the editor of the publication, which will be resurrected online before a decision is made whether to resume in print. The old Times had enraged some aboriginal leaders with its hardline approach to indigenous affairs. Kimberley Aboriginal leader Bergmann said on 20 January that he wanted the paper to focus heavily on indigenous business success stories. Barrass, who has a 49% stake in the company, promised the publication would be upmarket, entertaining and provocative. “It will reflect a range of indigenous views, not just one political leaning,” he said (Australian, 21 January 2016, p.6).

Is Rupert Murdoch about to gobble up ten Queensland and two NSW regional daily newspapers?

It probably comes as no surprise to readers of APN News & Media’s The Daily Examiner and Coastal Views that newspapers in the Northern Rivers are battling and, Rupert Murdoch may be poised to swallow whole  APN’s print stable Australian Regional Media.

This print stable includes 12 daily newspapers and 70 community & specialist titles.

If News Corp does purchase ARM that would leave only three Northern Rivers newspapers, including the Clarence Valley Independent not in Murdoch’s control.

Echo NetDaily, 26 February 2016:

The owner of The Northern Star and other local newspapers including Byron Shire News, Tweed Daily News, Lismore Echo and Ballina Advocate has put them on the market, saying they are dragging the company down.

They join more than 100 regional newspapers and websites in Queensland and northern NSW that are are up for sale as their owner says it no longer wants to pour money into them.

APN News & Media says it is in talks about the divestment of its Australian Regional Media (ARM) business, which reaches an audience of more than 1.5 million between Mackay and Coffs Harbour.

ARM’s earnings dropped 27 per cent in calendar 2015, despite millions in cost cuts and growth in digital subscriptions beginning to replace the declining newspaper audience.

‘Further investment in this business is now inconsistent with APN’s long term ambitions and we have commenced the process to divest the business,’ APN chief executive Ciaran Davis said.

According to industry publication TheNewspaperWorks APN was asked after its results presentation, whether News Corp Australia was the only potential purchaser of the mastheads and how APN would ensure it was not disadvantaged in the sales process by News’ investment in the company. (News holds a 15 per cent strategic stake in APN.)

‘In response APN said it was talking to a number of parties, and it was too early for a price guide,’ TheNewspaperWorks reported.

Byron Shire Echo and Echonetdaily general manager Simon Haslam said, ‘This just reinforces the point that Rupert Murdoch is calling the shots at APN.’

Mr Haslam added, ‘On behalf of The Echo, I’m happy to offer to run free classifieds for APN to help them in their search for an alternative purchaser, so Byron shire is not further exposed to News Ltd, as Murdoch’s ownership increases to 100 per cent of the Byron News and Northern Star.’…..

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.”……

Main stream media in self-congratulatory mode

Main stream media is currently in self-congratulatory mode. 

The Daily Examiner 14 April 2015:

Who had the power to help reduce street violence by 40% in Australia's biggest city? Who made Queensland's Government aware of the need to protect local jobs and forced them to backtrack on allowing 100% fly-in, fly-out workforces? And who is on the cusp of significant changes to domestic violence legislation that will better protect women?

The answer? The nation's newspapers, whose influence in our society is being highlighted in a $5 million marketing campaign.

APN News & Media (parent company of this newspaper), Fairfax Media, News Corp Australia and West Australian Newspapers (Seven West Media) have combined to promote the "Influential by Nature" campaign.

It will highlight achievements that few other media are able to match; like a Sydney Morning Herald campaign that reduced drunken violence by 40%, an Australian Regional Media campaign spearheaded by the Mackay Daily Mercury, Rockhampton Morning Bulletin and Gladstone Observer that reversed a 100% FIFO stance by the Queensland Government. And the current campaign involving this paper that will likely result in new domestic violence initiatives.

APN chief executive Michael Miller, fronting the campaign for the newspaper and website publishers, said readers and advertisers needed reminding that one media was having more impact on their patch than others……

There is no denying that ethical news reporting often gives newspaper readers their first information on a social or political issue.

However, this thinly disguised marketing ploy "Influential by Nature" ignores the decline of that which it is promoting.

The barely re-worked media releases presented as news gathered by journalists, the advertorials passing as articles, the growing number of spelling and grammar errors which turn paragraphs into guessing games for the reader and, the fact that modern newspapers are now more often followers rather than leaders when it comes to social and political 
issues.

Media cancer reaches NSW North Coast

News Corp has now acquired a 14.99 per cent interest in APN News & Media which owns a number of print and digital newspaper publications on the NSW North Coast and elsewhere in Australia and New Zealand, including some of this region's oldest mastheads such as The Daily Examiner and The Northern Star.

This percentage of ordinary shares not only makes it a substantial shareholder, it is likely to place News Corp (and Murdoch family interests) in the top three* shareholders in this media company.

There is no way of softening this - basically any hope of editorial independence and unbiased reporting continuing into the future has all but disappeared for most of our local media, along with the possibility of retaining any genuine local viewpoint on contentious social, environmental or political issues.

Two years from now what newsagent delivery vans throw onto people's front lawns will more than likely be a poor man's version of that Sydney rag The Daily Telegraph.

News Corp Builds Its Investment in APN News and Media, 18 March 2015

* The Daily Examiner reported on 19 March that News Corp was in fact now APN's largest shareholder.

Rupert Murdoch not squatting as securely on top of the News Corp dung heap?

The number of News Corp shareholders who do not unconditionally ‘love’ Rupert Murdoch appears to be growing if the 14 November 2014 statement to the United States Securities And Exchange Commission is any indication.

An estimated 31.30% of all eligible voters (or around 7 million more voters than last year) didn’t want Rupert Murdoch on the board of the company he inherited from his father, while 31.17% and 33.05% respectively didn’t want his sons Lachlan and James as directors either.

An estimated 46.05% of all eligible voters supported the dismantling of the dual class capital structure which reportedly gives Murdoch interests 39% of the company votes although his family owns about 15% of the equity.

* Broker Non Votes are: shares are held in a brokerage account, your broker is obligated to vote your shares as instructed by you. If you don’t give voting instructions to your broker, your broker’s ability to vote your shares depends on whether the item is “routine” or “non-routine.” The New York Stock Exchange decides whether an item is “routine” or “non-routine.”

Under the New York Stock Exchange rules, brokers may vote on “routine” items in their discretion on behalf of any customers who do not furnish voting instructions within 10 days of the annual meeting. With respect to “non-routine” items that come before the annual meeting for a vote, brokers would not be able to vote at all without first receiving voting instructions from their customers.

A broker “non-vote” occurs when the broker does not vote on a proposal because it is a non-routine item and the broker’s customer has not provided voting instructions. These broker “non-votes” would not be considered in the calculation of the majority of the votes cast and therefore would have no effect on the vote with respect to a non-routine item. [New York Stock Exchange]

** Dual Class Stock is: the issuing of various types of shares by a single company. A dual class stock structure can consist of stocks such as Class A and Class B shares, and where the different classes have distinct voting rights and dividend payments. Two share classes are typically issued: one share class is offered to the general public, and the other is offered to company founders, executives and family. The class offered to the general public has limited voting rights, while the class available to founders and executives has more voting power and often provides a majority control of the company.[Investopedia]

I do wish journalists would look at methodology before quoting surveys

The Sydney Morning Herald on 29 October 2014 published an article containing this statement:

The level of trust in the Abbott government has soared in three months as public attention shifts from the budget to a heightened sense of nationalism in the context of national security, a new survey indicates. 

In the middle of the year only 26 per cent of people thought the federal government could be trusted to do the right thing for the Australian people.

At the end of October the figure had climbed to 36 per cent - the highest level of trust in the federal government recorded since 2009 by the Mapping Social Cohesion survey. 

What the journalist failed to note about this survey was that:

The target for the project was to achieve n=1000 completed questionnaire with respondents aged 18 and over, who were born in Australia and whose parents were both born in Australia.

Now the 2011 national census revealed that almost a quarter (24.6 per cent) of Australia's estimated population of 21.5 million people were born overseas, 43.1 per cent of the population (or 9.2 million people) had at least one overseas-born parent and 15 per cent did not have citizenship. Approximately 84.5 per cent of the population at that time would have been 18 years of age and over.

What this indicates is that the Mapping Social Cohesion survey did not include the possibility of canvassing the opinions of large section of the Australian community.

Even living in regional New South Wales as I do, it would exclude a good many voters in the town in which I live.

All of which changes the weight readers might have given to this newspaper article if they had realized the demographic limitations it contained.

Standard and Poor's has downgraded APN News & Media's debt credit rating

An interesting snippet from the AUSTRALIAN NEWSPAPER HISTORY GROUP NEWSLETTER No. 79 October 2014:

79.3.4 APN (2): Rating downgraded

Ratings agency Standard and Poor’s has downgraded APN News & Media’s debt credit rating after the media company canned a proposed offering of senior unsecured notes in the US bond market (Australian, 18 September 2014). S&P has lowered the publishing, outdoor advertising and radio company’s debt to BB from BB+. APN was expected to use the proceeds from the $US250 million ($270m) issue to repay its outstanding debt and to cancel commitments under a bank facility of $630m.

A BB rating is assigned when a company’s creditworthiness and ability to meet financial commitments is deemed to face “major ongoing uncertainties or exposure to adverse business, financial, or economic conditions”. APN abandoned the offering citing unsatisfactory “terms and conditions”, and said the decision would not impact debt level or maturities. The company recently entered into a new facility with a syndicate of domestic and international banks, and was carrying net debt of $482.6m as of June 2014. The debt downgrade comes as APN considers strategic options for APN New Zealand, which operates publishing assets including the New Zealand Herald as well as The Radio Network and the digital business GrabOne. APN has retained Grant Samuel to assist in the process.