News Corporation Reports $817 million loss as newspapers lose value

Rupert Murdoch’s News Corporation has recorded an $817 million loss across the year as the values of its newspaper mastheads declines. Despite $40 million in cuts to many of its papers and a profit of $300 million last year News Corp has been unable to slow the loss of money as print media is abandoned…

Fairfax Shares Rise During Bidding War

Fairfax’ shares have risen by 6.9 per-cent, taking them to a six-year high, after receiving competing bids for the company. The competing bids come from Australian telecommunications company TPG and US private equity company Hellman & Friedman. Hellman & Friedman are an established media investment company located in both New York City and San Francisco.…

Graham Mabury Hangs Up The Headphones

Veteran broadcaster Graham Mabury announced his retirement after hosting Nightline for 33 years on 6PR. Mr Mabury said he discussed the decision with management last year and he believes now is the time to hand over the responsibility to someone else. During his nightly radio program Nightline, Graham stated that it was his personal decision…

Schapelle Corby Granted Bail

After spending more than 9 years in the Indonesian Kerobokan Prison, Schapelle Corby has been granted bail along with 1291 prisoners in the system. There was a media frenzy outside the prison as Mercedes Corby arrived in the afternoon. Indonesia’s Justice Minister Amir Syamsuddin held a press conference later this evening, but he refused to answer specific questions about…