A Noisy Stub: Rupert Murdoch’s Australian news assets valued at zip
Rupert
Murdoch’s News Corp is shrinking – Facebook is now 60 times the size –
yet its political clout still has Australia’s politicians entranced.
When will its hold over politicians fade?
News Corp is just not that big any more. Google is worth $US946 billion on the sharemarket and Apple $US1.3 trillion while the American media mogul Rupert Murdoch presides over an empire in decay. News is valued by the sharemarket at a piddling $9.5 billion.
We say piddling with tongue firmly planted in cheek. It is still enormous but it is shrinking. Having just posted a billion-dollar loss for the March quarter, News and its rival Nine continue to flog assets to raise cash.
Given 75% of News Corp's value is realestate.com.au it suggests it's media is next to worthless which makes Andrew Bolt even lesser value. Any wonder he's towing the American editorial lines of pro-fossil fuels, ant- climate change and anti-social distancing he has to impress his boss some way if it's not by the share price. If News Corp's value keeps going the way it is Bolt won't be doing an Alan Jones and leaving on his own terms. Will he have the money for his Dutch barge, food for his Dutch Dogs or the garden for his Dutch tulips. That yearly lunch will be off as he'll be unable to even go Dutch with his mate. The whiskey on his show isn't even his but does he take it home like a Dutchman would?
News Corp is just not that big any more. Google is worth $US946 billion on the sharemarket and Apple $US1.3 trillion while the American media mogul Rupert Murdoch presides over an empire in decay. News is valued by the sharemarket at a piddling $9.5 billion.
We say piddling with tongue firmly planted in cheek. It is still enormous but it is shrinking. Having just posted a billion-dollar loss for the March quarter, News and its rival Nine continue to flog assets to raise cash.
Given 75% of News Corp's value is realestate.com.au it suggests it's media is next to worthless which makes Andrew Bolt even lesser value. Any wonder he's towing the American editorial lines of pro-fossil fuels, ant- climate change and anti-social distancing he has to impress his boss some way if it's not by the share price. If News Corp's value keeps going the way it is Bolt won't be doing an Alan Jones and leaving on his own terms. Will he have the money for his Dutch barge, food for his Dutch Dogs or the garden for his Dutch tulips. That yearly lunch will be off as he'll be unable to even go Dutch with his mate. The whiskey on his show isn't even his but does he take it home like a Dutchman would?
US Attorney-General advances Trump’s quest to become “President For Life”
The
corrupt “Injustice Department’s” move to drop the case against turncoat
Russian agent, Michael Flynn, demonstrates Trump’s unfettered control.
For a president with limited authority, this is a critical step to a de facto dictatorship. DCReport editor-in-chief, David Cay Johnston,
reports.
Talkback host Alan Jones to step down from 2GB
Conservative
talkback host Alan Jones has announced his retirement after a long and
controversial career dominating Sydney breakfast radio
Mr Jones said Prime Minister Scott Morrison should "shove a sock down
her throat" following Ms Ardern's warning at a Pacific Islands Forum in
Tuvalu that Australia "will have to answer to the Pacific" on climate
change. Mr Morrison condemned shock jock’s tirade and Mr Jones was
forced to apologise. Despite Mr Jones apologising on-air brands abandoned his top-rating show, which usually makes about $12 million a year.
Andrew Bolt no doubt believes and will tell you that he's a soda to get the call to Sydney and Ch9 as he did when he tried to tell Miranda Devine the Steve Price Show was his for the taking. But does he dare leave Rupert?
No comments:
Post a Comment