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Daily Mail strikes 500m pound deal to buy the Telegraph
The owner of the Daily Mail has struck a deal to buy the Telegraph titles in a £500 million (A$1.02 billion) deal. The Daily Mail & General Trust (DMGT) entered a period of exclusivity with RedBird IMI, which has been seeking a buyer since being forced to put the papers up for sale last spring, to complete the terms of the transaction. RedBird IMI is a joint venture between the United Arab Emirates and the U.S. private equity firm RedBird Capital Partners. RedBird Capital's own bid for control of the Telegraph collapsed last week. The Telegraph has remained in limbo for over two years, when the RedBird IMI consortium paid off debts to the Telegraph’s previous owners, the Barclay Family, in hopes it would take eventual ownership of the papers. Chair of the House of Commons Culture, Media and Sport Committee said she was looking forward to seeing a resolution. "This situation has been unsustainable for the business and unsettling for staff so I hope the government set out its position early next week," she said. "The Committee have largely stayed out of the discussion to date, because takeovers are quasi judicial in terms of the Government's role." DMGT and RedBird IMI said they expect the deal to be finalise
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US news regulator probing BBC and ABC
The United States communications regulatory board is ramping up its probes into both the BBC and the American-based ABC News. The Federal Communications Commission made the announcement on Wednesday, local time, that they would be reviewing agreements made with national networks and local broadcast stations Stateside. This came just one day after President Donald Trump criticised an ABC news journalist, who asked Saudi Arabia's crown prince about the killing of a Washington Post columnist back in 2018. FCC Chair Brendan Carr said the review will probe into stations' programming and public interest grounds. Additionally, the watchdog is examining an episode of the British BBC show, Panorama, over an edit of a speech delivered by Trump back in 2021. The current affairs show edited two clips together of Trump giving a speech before the January 6th riots. Trump has already threatened to sue the BBC for defamation over the edit, and now Carr has announced he wants to determine if the BBC provided either the video or audio of the spliced speech to any broadcaster "regulated by the FCC for airing in the US". Carr has already faced heavy criticisms over actions made as the head of the watchdog this year, most notably
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BBC duo fall on their swords amid bias row
The British Broadcasting Corporation (BBC) Director-General Tim Davie and the CEO of BBC News Deborah Turness have also resigned in the wake of accusations of bias. Davie said he had decided to leave the BBC after 20 years in the wake of the controversy over the edit of a speech by U.S. President Donald Trump in a Panorama documentary, along with other instances of alleged bias. “This is entirely my decision, and I remain very thankful to the Chair and Board for their unswerving and unanimous support throughout my entire tenure, including during recent days,” he said in a statement. BBC Chairman Samir Shah said, “This is a sad day for the BBC. Tim has been an outstanding Director-General for the last five years. He has propelled the BBC forward with determination, single-mindedness and foresight. Turness said the ongoing controversy around the Panorama on President Trump has reached a stage where it is causing damage to the BBC. “As the CEO of BBC News and Current Affairs, the buck stops with me - and I took the decision to offer my resignation to the Director-General last night,” Turness said in a statement. The BBC had been under pressure from the leaking of an internal report that cited failings in its coverag
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News Corp lands above revenue estimates for Q1
New Corporation beat estimates for revenue in its first fiscal quarter, according to the latest earnings report from the media giant. Dow Jones was leading the charge for profitability, with revenue up by 6%, while its digital real estate services unit was right behind with a growth of 5% for the quarter. Dow Jones is the division that houses Barron's and the Wall Street Journal, among other mastheads, making it News Corp's most profitable sector. The overall revenue boost for the quarter, which came in at US$2.14 billion and was up 2% Y-O-Y, was boosted by a shift towards digital and subscription-based models. On an adjusted basis, earnings per share landed at 22 cents, higher than the 19 cents expected by analysts. News Corp, part of media mogul Rupert Murdoch's empire, has pivoted toward digital and subscription-based revenue models, aiming to enhance its competitiveness and adapt to a fast-changing news landscape. “Following a sterling performance in fiscal 2025 one that marked a record year for profitability on a continuing operations basis – News Corp continued to increase both revenue and profitability in the first quarter of fiscal 2026,” said News Corp CEO Robert Thompson in the earnings report. “Clea
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Paramount Skydance to begin first round of layoffs
Paramount Skydance Corp is set to begin a major round of layoffs with 1,000 job cuts on Wednesday, according to Bloomberg. A second round will also be expected, with the total number of layoffs expected to reach 2,000 as previously reported. The layoffs follow the merger of Paramount Global and Skydance Media in August, with new management making it clear that it wants to move quickly to cut costs and restructure the business. The new owners have stated a goal to slash upwards of US$2 billion (A$3.05 billion) in costs. The merger was reportedly worth $8.4 billion, with the incoming layoffs set to impact 5% of Paramount’s employees based on its workforce prior to the deal. As of December 2024, Paramount had almost 18,600 full-time and part-time employees and 3,500 project-based staff. New CEO David Ellison also made a bid for Warner Bros and also made a case for more industry mergers during the Bloomberg Screentime conference. This is part of Ellison’s ambitions to compete with streaming giants like Netflix, Amazon and Apple. Since taking over Paramount, Ellison has made many deals, including a $7 billion seven-year exclusive deal for the rights to UFC, luring over Stranger Things creators, the Duffer Brothe

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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
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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
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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
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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