Business of Media
James Packer turns tech investor – makes $500m profit
James Packer’s private company has made a $500m profit thanks in part to a string of American technology stock investments, in a preview of what the billionaire may do with the funds he would earn from selling his long-held stake in Crown Resorts, reports News Corp’s John Stensholt.
The latest accounts of the billionaire’s Consolidated Press Holdings, obtained by The Australian, show Packer’s paper fortune surging by about $600m after a bumper 2021 that was also boosted by a rise in the market value of the gaming company.
CPH made a net profit of $530m in the year to June – and paid Packer a $111m dividend – the accounts lodged with the corporate regulator on Tuesday evening reveal.
Netflix to pay tax on Australian subscriber revenue
Netflix will begin to declare its estimated $1 billion-plus revenue it makes from an estimated 6 million Australian subscribers each year to the Australian tax authorities from the new year, reports AFR‘s Miranda Ward.
The US-based streaming giant had funnelled Australian-generated revenue, estimated to be between $790 million and $1.4 billion, through a Netherlands-based subsidiary, which billed local subscribers with the money collected by Netflix Australia on behalf of Netflix International BV. The Australian entity then charged the parent company a fee to provide those services.
From January 1, this will change, with Netflix converting its Australian streaming support service entity to a local limited risk distributor of access to the Netflix service.
This means, that in the new year, Australian Netflix subscribers will be billed by Netflix Australia, with subscription revenue generated in the local market recognised and taxed, with the change likely to increase the amount Netflix pays in Australia in corporate tax.
Stars to be rolled out as Facebook, Insta, TikTok to go under the microscope
Big tech and the dangers of toxic material posted on social media platforms will be the subject of a new parliamentary inquiry, to be announced today, chaired by Central Coast MP Lucy Wicks, reports News Corp’s James Morrow.
Inspired by the accounts of Facebook whistleblower Frances Haugen, who is testifying before the US Congress this week, Communications Minister Paul Fletcher said that her “troubling” revelations have “amplified existing concerns in the community”.
“This inquiry will give organisations and individuals an opportunity to air their concerns, and for Big Tech to account for its own conduct,” Fletcher said.
The committee is expected to invite AFL stars Adam Goodes and Tayla Harris, anti-troll campaigner Erin Molan and Haugen, who leaked thousands of internal documents to argue the giant was “unquestionably making hate worse”.
Ex-Chaser host Julian Morrow denies row with ABC boss
Former Chaser host Julian Morrow has denied having an angry confrontation with now ABC boss David Anderson in a foyer at the public broadcaster’s Sydney HQ after being told his show The Checkout had been axed, reports News Corp’s Liam Mendes.
On Tuesday, Morrow was cross-examined by Murray’s barrister Ben Katekar QC, who referred to a July 2018 meeting he had with then ABC managing director Michelle Guthrie.
At the meeting, Morrow had been told the ABC would not be returning The Checkout from hiatus in 2018 and 2019. It is then alleged by Murray that Morrow had a “confrontation” with then head of TV Anderson in a public foyer of the ABC offices.
ABC managing director David Anderson admits to editorial failings in Juanita Nielsen series
ABC managing director David Anderson has made a significant concession that staff working on the bungled documentary series into the disappearance of journalist Juanita Nielsen “should have done more digging” before problematic claims went to air, reports News Corp’s Sophie Elsworth.
Questionable material aired in the two-part series in September into Nielsen’s 1975 disappearance and murder but were stripped from the ABC’s streaming platform iview just weeks after a key person, retired lawyer John Innes, who was interviewed in the program had his astonishing claims discredited.
At Senate estimates this week, Anderson admitted the program, Juanita: A Family Mystery, which fell under the ABC’s Entertainment and Specialist division, failed in doing its due diligence before Innes’ claims aired.
No plans to sell ABC Adelaide base
ABC has reaffirmed its intention to remain at its historic Collinswood base in Adelaide but has vacant floor space it wants to address, reports TV Tonight.
“We’ve just leased another floor there, which is good news,” managing director David Anderson told Senate Estimates this week.
“But there are still some empty floors. I have been in discussion with South Australian Government -the Premier and some of his staff- with regard to what we might be able to do that could be quite exciting. But it would need to have a funding arrangement that would encourage production there.
“We spend on average, in a pre COVID way before disruption of the pandemic, about $95m to $100m with the independent production sector, commissioning production all around the country.
“So I think there are opportunities in South Australia with that vacant space. We have no intention of selling that property, rather using it better. Of course we have a decentralisation plan as part of our Five Year Plan.”
Radio
2GB radio host Ray Hadley lashes out at Covid anti-vaxxers
Radio heavyweight Ray Hadley has savaged anti-vaxxers in a blistering, on-air spray suggesting they would be Nazi and paedophile sympathisers, reports News Corp’s Kaitlyn Hudson-O’Farrell.
2GB morning host Hadley raised a “hugely insulting” email from a listener on Tuesday morning, who accused Hadley and 2GB colleague Mark Levy of “cowardice” for not allowing anti-vaxxers to call in and share their views on the talkback line.
Hadley launched into a stunning attack on the listener, calling him a “dickhead” and declaring anti-vaxxers would “never” have a voice on his show.
Hadley equated the listener’s views with those of Nazis or paedophiles.
“(The listener wrote) ‘after 400 people have died from the vaccine’ … five million have died from the virus you dickhead,” Hadley said.
“I expect that during World War II you’d be prepared to listen to the rantings of Hitler and give him equal time as well … perhaps you think paedophiles have a point and perhaps I should air their views on here.”
He added: “Anti-vaxxers are a scourge on society, and will never get any traction here, never have and never will.”
Television
‘Bride and Prejudice’ star James Ciseau killed in horror Queensland crash
Sunshine Coast man James Ciseau, who was known for his role in the 2019 edition of Bride and Prejudice, has died in a horrific head-on crash at Beerwah in Queensland, reports News Corp’s Matty Holdsworth.
The man’s heartbroken younger sisters have paid a beautiful tribute to their “brother bear and protector”.
The Courier Mail reported the popular pool builder, 36, has been remembered by loved ones for his “heart of gold”, his “jovial” nature and for how he chose to live a life of happiness.