There’s a new traffic cop on the media beat in Australia. His name is Lachlan Murdoch, and once his cute deal with dear friend James Packer is consummated he will be directing the traffic in every major part of Australian media:
Network Television: his new company will own 25% of the Nine Network, Australia’s second-biggest TV network, and have the option to buy back the remaining 75% if and when private equity company CVC decides to sell out.
Pay Television: his new company will own 25% of Foxtel, Australia’s dominant pay TV operator, and is positioned to take control if Telstra decides to sell out.
Newspapers: he sits on the board of News Corporation, which owns Australia’s biggest newspaper network, where he is also a substantial shareholder and is the son of the boss.
Magazines: his new company will own 25% of Australia’s biggest magazine publisher, ACP, and have the option to buy back the remaining 75%.
The traffic in the Australian media used to flow through all sorts of big and small roads. Today there are a handful of freeways controlled by a handful of owners and, after the Murdoch-Packer play, traffic on most of those freeways will be channelled onto the Media Concentration Super Highway, all under the watchful eye of the new cop on the beat.
Democracy in Australia is becoming more like a toll road.
Outrageous. Cosy. The only appropriate words. I await our new Government’s response with interest. Who else can control this attempt to subvert our democratic way. 90% of our media cannot comment. All we have left is the ABC, The Chasers and Crikey.