Business of Media
Facebook ignores critics as it powers through $US1 trillion
Facebook’s critics have long pleaded with the company to revise its data-mining business model, tweak its algorithm to prevent misinformation and hate speech from going viral, and stop its practice of copying and acquiring competitors. But its investors have consistently delivered a different message: Keep up the good work, reports AFR’s Sarah Frier.
Facebook’s share price has climbed relentlessly, and on June 28 the company became the fastest to reach a $US1 trillion market value, just 17 years after its founding and nine years after it went public.
The news that triggered the milestone was a judge’s dismissal of a lawsuit from the Federal Trade Commission scrutinising Facebook’s monopoly power. The suit could be refiled but for now chief executive Mark Zuckerberg is celebrating. “I’m grateful to get to build things that so many people find meaningful in their lives,” he wrote on Facebook, receiving more than 300,000 “likes” and “hearts” from his followers.
Businesses urge ACCC to tread carefully with Google and Facebook
Small and medium-sized businesses are urging the Australian Competition and Consumer Commission to be careful in its campaign against the tech giants, reports AFR’s Miranda Ward.
The chief executive of Melbourne-based women’s boutique Caroline K Morgan and FEMME Connection is concerned any fallout from Google and Facebook in response to the ACCC probe into market power abuses would likely fall on local businesses.
$1m reward for Luna Park Ghost Train fire
The NSW Government, together with the NSW Police Force, has announced a $1 million reward for information into the 1979 Luna Park fire, as Homicide Squad detectives continue to review the circumstances surrounding the fatal blaze, reports TV Tonight.
The announcement follows recent revelations in ABC documentary series Exposed: Ghost Train Fire by investigative journalist Caro Meldrum-Hanna.
About 10.15pm on Saturday 9 June 1979, emergency services were called to Luna Park at Milsons Point, following reports of a fire inside the Ghost Train ride.
Six boys and a man were killed in the blaze.
Foxtel IPO is a ‘tough needle to thread’: industry insiders
Investors and industry insiders are not convinced News Corp-controlled Foxtel will be able to pull off a float on the ASX, but they say now is the time to try to “thread a very tough needle” as the streaming market booms, reports AFR’s Miranda Ward.
As reported by Street Talk, the cable TV company is undertaking a feasibility study of sorts to assess the viability of a berth on the ASX boards this year.
While Foxtel declined to comment, News Corp chief executive Robert Thomson indicated at the company’s quarter results in May that the company’s “relentless focus on costs transformation have delivered a much enhanced financial performance that certainly gives us flexibility and optionality”.
Television
Reality check: trends, highs and lows of the TV year so far
The year is half over, which is more than enough time to allow shows to rise, careers to sink, and for programming executives on the wrong side of the ratings figures to get the right self-medication regimen, reports SMH’s Craig Mathieson.
Our television options are more complex than ever, but it’s still possible to discern what is and isn’t working. Here are some of the trends that mattered in the first half of 2021, which will also influence what happens for the rest of our viewing year.
Publishing
Australian Motorcycle News celebrates its 70th anniversary
It was way back on 1 June 1951 that the very first issue of what was then called The Victorian Motor Cycle Weekly was published, making what we know today as Australian Motorcycle News the oldest surviving motorcycle magazine in the world.
Incidentally, Australian Motorcycle News is also Australia’s second-oldest magazine after The Australian Women’s Weekly (1933).
In his first editorial, Australian Motorcycle News founder George Lynn outlined the objective of his new publication as follows: “The aim of The Victorian Motor Cycle Weekly is to present news and reports of sporting events each week to everyone interested in motor-cycling matters. In short, it is hoped that the “Weekly” will become the motor-cyclists’ newspaper.”
Not long after its inception, The Weekly became a fortnightly publication, but it wasn’t until 24 May 1957 that it became a national publication with a name change to Australian Motorcycle News for Vol 06 No 23.
Lynn’s aim to fulfil the needs of motorcyclists is still one of Australian Motorcycle News’s guiding principles, although these days – in addition to race reports and news stories from around the globe – the fortnightly publication also contains feature articles, interviews, technology stories, motorcycle destinations, gear tests and much more.
Australian Motorcycle News will officially celebrate its birthday with a 212-page 70th Anniversary Edition (Vol 71 No 01) which will hit newsstands on 8 July 2021. This issue will not only provide a more detailed insight into the history of Australian Motorcycle News, but also take a look at how motorcycling has evolved over the past 70 years, and how Australian riders have had a huge impact on the world stage.
Radio
Radio insiders say 2GB wants a lowered conservative tone on air
Staff at Nine Radio’s Sydney station 2GB say management has become “spineless” and “scared” of social media as it turns away from the conservative views that made it a ratings hit, reports News Corp’s Sophie Elsworth.
Three senior sources, who spoke on condition of anonymity citing concern for their employment, said some of the station’s most formidable on-air presenters had been replaced by “lightweights”.
Two key broadcasters to depart the station were Alan Jones in May last year and Steve Price at the end of 2019.
Multiple sources said management, led by Nine Radio boss Tom Malone, wanted to “lower the conservative tone” of the station to avoid causing a backlash on social media including Twitter, potentially resulting in the withdrawal of advertising.
Police seek AVO for Nova host Michael ‘Wippa’ Wipfli against fan
Police have applied for an apprehended violence order on behalf of popular Fitzy & Wippa host Michael Wipfli against one of his fans, reports News Corp’s Lane Sainty.
Lisa Christian, who runs a website devoted to the Nova 96.9 breakfast star, appeared before Downing Centre Local Court for a brief mention on Wednesday where her lawyer said she opposed the application.
Deputy Chief Magistrate Jane Mottley said the case may raise questions about the appropriateness of making AVOs against people with cognitive impairments, before adjourning the matter to next month.
Sports Media
SEN to broadcast NBA Finals from today on digital station SEN Fanatic
Sports Entertainment Network will broadcast the National Basketball Association’s Eastern and Western Conference Championships. Game 1 begins at 11am today AEDT and will be available via SEN’s DAB+ station, SEN Fanatic.
The anticipated NBA Finals Conference series sees the Phoenix Suns take on the Milwaukee Bucks. Both sides are desperate to be crowned NBA champions, with both sides suffering from long Final’s droughts.
The Phoenix Suns last NBA Finals appearance was in 1993 and the team have never won an NBA Championship.
The Milwaukee Bucks have not won since 1974.
Phoenix fans are also hoping for a fairy tale for long-standing Suns player Chris Paul who at age 36, is an 11-time All-Star player and has two Olympic Gold medals but has never won an NBA title.
For the Bucks everything hinges 2019 MVP Giannis Antetokounmpo‘s who has been plagued by a left knee injury which could see him miss today’s game, but if he plays this would be a gamechanger for the Bucks.
SEN content manager Julian Bayard is excited for a huge month of international sport. ”Broadcasting NBA is a core part of our vision to bring the best in local and global sport to Australian audiences,” he said.
SEN 1116 and SEN 1170 will also have highlights of each of the NBA finals games.
The full schedule for all 7 games of the series:
Game 1 began at 11am yesterday AEDT and all games will be available via SEN’s DAB+ station, SEN Fanatic.
Game 2: Friday, July 9 – 11 am
Game 3: Monday, July 12 – 10 am
Game 4: Thursday, July 15 – 11 am
Game 5 (if required): Sunday, July 18 – 11 am
Game 6 (if required): Wednesday, July 21 – 11 am
Game 7 (if required): Friday, July 23 – 11 am