Media

Media
ACCC probes Southern Cross, Seven Media merger
The Australian Securities and Investments Commission (ASIC) has opened an inquiry into Southern Cross Media’s proposed acquisition of Seven West Media, which would create an A$400 million media group. The ACCC has invited submissions from interested parties regarding the proposed acquisition by 2 pm AEST on 29 October 2025. Under the deal, Seven West Media shareholders would receive 0.1552 Southern Cross shares for every share they hold, giving Southern Cross 50.1% of the combined entity, with interests across television, radio and newspapers In a statement, the corporate regulator said Southern Cross and Seven overlapped in the supply and acquisition of audio, audiovisual, news and current affairs content. "Southern Cross and Seven also overlap in the acquisition of content from content providers. "These overlaps occur nationally, in each state and in certain local areas within each state." The ACCC was seeking views on: how closely Southern Cross and Seven’s media platforms compete in the supply of content to consumers and the supply of advertising space to advertisersthe impact on choice and volume or range of entertainment, sport, news and information available to consumers due to a reduction in competitionwh
Media
Paramount buys Free Press, founder to lead CBS News
Paramount Skydance Corp is buying independent subscription media company The Free Press and appointing its co-founder and CEO, Bari Weiss, as editor-in-chief of its CBS News unit. The media and entertainment company did not disclose the purchase price but Reuters quoted a source familiar with the matter as saying it was US$150 million (A$181 million). Paramount Chairman and CEO David Ellison said he was confident 41-year-old Weiss’ entrepreneurial drive and editorial vision would invigorate CBS News. “This move is part of Paramount’s bigger vision to modernise content and the way it connects – directly and passionately – to audiences around the world,” he said in a news release. The company said Weiss would shape CBS News’ editorial priorities, champion core values across platforms, and lead innovation in reporting and news delivery, partnering with CBS News President Tom Cibrowski. “Their partnership reflects Paramount’s recognition that the future of CBS News as a dynamic, multiplatform newsroom requires unified editorial leadership across television, streaming, digital, audio, social media, and events,” Paramount Skydance said. The Free Press will maintain its own independent brand and operations, and continue
Media
Rupert Murdoch clears the heir; Lachlan secures control
If there was ever any doubt who Rupert Murdoch’s favourite child is, there is none now. The 94-year-old Australian-born American citizen has anointed his eldest son, Lachlan, as the successor to take the reins of the US$43 billion (A$65 billion) global media empire he has spent more than 70 years building. This conclusion came with the announcement that the bitter dispute over who would control the empire had been resolved in a legal settlement involving the six children from three of the founder’s four marriages. Lachlan takes the reinsUnder the deal announced on Monday (Tuesday AEST), 54-year-old Lachlan will cement control of the group, including News Corporation and Fox Corporation, while three of his siblings will walk away. They are the other children from his 34-year second marriage: Elisabeth, 57, and James, 52; and his eldest child from his first marriage, Prudence MacLeod, 67. If the three leave with their tails between their legs, they will not be empty-handed, trousering billions of dollars of cash, in return for giving up their interests in the family trust and selling their personal holdings in Fox and News. The trust was set up in 1999 after Rupert's divorce from his second wife Anna, who wanted to en
Media
Murdochs settle succession dispute in US$3.3m deal
The long running dispute over who will control the Murdoch family media empire has been resolved in a legal settlement valued at US$3.3 billion (A$5 billion). Under the deal announced by broadcaster Fox Corporation, eldest son Lachlan Murdoch will cement control of the group, which also includes News Corporation, the company founded by his 94-year-old father Rupert. In a statement, Fox said new trusts would be created for Rupert’s children James Murdoch, Elisabeth Murdoch and Prudence MacLeod, who will receive cash funded partly from the family trust’s sale of Fox and News Corp shares valued at $1.655 billion. The size of the cash component was not specified, but the Australian Financial Review newspaper cited a The New York Times report valuing the deal at $3.3 billion. In return, the three ‘departing beneficiaries’ will sell their personal holdings in Fox and News over of six months, agree not to buy more shares in the two companies, and cease to be beneficiaries of any trust holding shares in the companies. A new trust will be established for Lachlan Murdoch and Rupert’s other ‘remaining beneficiary’ children Grace and Chloe Murdoch, which will own the remaining shares held by the family trust, consisting of 36.2
Media
News Corp beats revenue estimates on Dow Jones growth
News Corporation beat estimates on revenue last quarter, supported by growth in its Dow Jones segment. Revenue was US$2.11 billion, rising by 1% year-over-year and beating market estimates of $2.09 billion. However, adjusted earnings per share (EPS) came in at $0.19, slightly below expectations of $0.20. “News Corp reported a sterling performance sustained across the four quarters of Fiscal 2025. For the full year, revenues rose 2% to nearly US$8.5 billion and our net income from continuing operations improved substantially, increasing 71% to $648 million, while Total Segment EBITDA improved 14% to a new record on a continuing operations basis of over $1.4 billion,” said News Corp CEO Robert Thomson. Dow Jones revenue was up 7% to US$604 million, with Wall Street Journal subscriptions rising by 7%. Digital Real Estate Services revenue increased 4% to $466 million, driven in part by 4% revenue growth at REA Group. Book Publishing and News Media revenue each fell by 4% year-over-year Its Dow Jones and Digital Real Estate Services segments were also the only divisions to see growth in EBITDA, up by 10% and 13% respectively. The company is negotiating possible licensing agreements with artificial intelligence compani

Media
Call for PR that's faster, braver; built for the moment
Dear PR Traditionalists, Public relations can no longer hide behind polished decks and the tired mantra of “that’s how it’s always done”. Those safe habits are shackles - slowing us down, dulling our impact, and disconnecting us from what really moves people. We’re not here to simply publicly relate - we’re here to stir things up, to challenge the status quo, to drive culture forward with boldness and purpose. To be more than just public relations. But somewhere along the way, we became obsessed with doing things “by the book.” And now that book is gathering dust. While we’re still fussing over the formatting of a pre-read, cultures already dropped three memes, remixed a TikTok sound, and spun the conversation into another galaxy. Let’s not kid ourselves. No one is waiting breathlessly for your client’s campaign like it’s the season finale of Succession. Audiences are living in the moment, and if your story doesn’t move with them, they move on. Fast. Agile storytelling isn’t a nice to have. It’s the baseline. It’s about building ideas that can breathe, shapeshift, and respond to what’s happening right now, not unveiling a perfectly polished campaign months after the moment’s passed. And yet, the industry still
Media
Pinstripe: Sun rises on new era in digital publishing
A company co-founded by Australian media personality David Koch has been sold to a digital media company for an undisclosed sum. SmartCompany parent company Private Media announced it had acquired Pinstripe Media, which was established in 2007 by Koch, a journalist and publisher who hosted the Seven Network breakfast program Sunrise for 21 years, and his wife Libby Koch. Pinstripe Media publishes small business and startup publications including Startup Daily, Flying Solo, Business Builders, which was previously known as Kochie’s Business Builders, and consumer finance publication Your Money & Your Life. These four titles will join the Private Media stable of publications, which includes Crikey, The Mandarin and Pinstripe’s bespoke content agency offering. No redundancies are expected to be made following the deal, according to a statement on the Private Media website. The two companies said Business Builders, Start-up Daily and Flying Solo would retain their editorial independence and brand identities but collaborate to create more value for audiences and partners. David Koch, better known as Kochie, will be a strategic adviser to the business, and will continue to act as a presenter and commentator on the netwo
Media
Los Angeles Times to go public by next year: owner
The Los Angeles Times will soon become a publicly traded company, as it seeks to recover subscribers. The newspaper’s owner, Patrick Soon-Shiong, told The Daily Show’s Jon Stewart that the initial public offering would happen within the next year. “We literally are going to take the LA Times public and allow it to be democratised and allow the public to have the ownership of this paper,” Soon-Shiong said. “We think over the next year we will.” “Whether you’re right, left, Democrat, Republican, you’re an American. So the opportunity for us to provide a paper that is the voices of the people, truly the voices of the people, is important.” Soon-Shiong acquired the Los Angeles Times in 2018 for US$500 million, having previously invented the cancer medication Abraxane and founded the biotechnology network NantWorks. The paper's staff were not told about the initial public offering plans before the announcement, Politico reported. The New York Times is also publicly traded, as well as newspaper publishers like Gannett and News Corp. The Los Angeles Times has undergone several rounds of layoffs in recent years. It cut around 20% of its employees in 2024 after the exit of executive editor Kevin Merida. Soon-Shiong, a
Media
Substack's $1.1bn valuation after new funding round
Newsletter platform Substack has raised US$100 million in its latest funding round, bringing its valuation to $1.1 billion. The funding round was led by BOND and the Chernin Group, and included Andreessen Horowitz along with the CEOs of Skims and Klutch Sports Group. “We’ll invest in better tools, broader reach, and deeper support for the writers and creators driving Substack’s ecosystem. Already, hundreds of millions of dollars flow from audiences to creators there every year,” wrote Substack co-founders Chris Best, Hamish McKenzie, and Jairaj Sethi. “The model is working — across writing, audio, video, and communities — and this funding lets us go further.” With this new funding, Substack is now valued at US$1.1 billion, according to the New York Times. BOND general partner Mood Rowghani will also join Substack's board, the company said. Substack said it would continue to push forward with its app, which became the main source of subscriptions on the platform last year. The app allows subscribers to message newsletter creators and add short-form text posts. It has also become increasingly open to advertising, with Chernin Group co-founder Mike Kerns saying that Substack could integrate tools for ads into the