Paradise Papers by the numbers. Yesterday, the first stories based on the leaked Paradise Papers were released around the world, revealing details of offshore accounting practices of the world’s richest people. The documents were leaked to German newspaper Suddeutsche Zeitung, and journalists around the world have been collaborating for months to coordinate news stories based on the documents. The International Consortium of Investigative Journalists coordinated the project breaking down 13.4 million records. Ninety-six news organisations and 380 journalists, in 67 countries, worked on the project, publishing stories in 30 languages, with more stories promised for later this week. In Australian, ABC’s Four Corners, The Guardian and The Australian Financial Review have worked on the leaks. ICIJ senior editor Mike Hudson talked to Poynter about the logistics:
“Each media partner maintains independence in terms of what they publish or broadcast. We all agree to share information and agree to all come out with our stories at the same time. But each news organization — including ICIJ — chooses, writes and edits stories in the way that best serves its own audience.”
How not to respond to a reporter. Reports from the Paradise Papers have involved prominent people from all over the world. One of those is the former deputy chair of Britain’s conservative party Lord Ashcroft, who was approached by a BBC reporter and camera at a Conservative Party Conference, prompting a two-minute chase in which he only said, “dear, dear, dear”, and ended by ducking into the loo.
Today Tonight breaches ‘accuracy’ requirement. The broadcasting regulator has found Today Tonight Adelaide in breach of the accuracy standards over a story about online flower delivery company Bloomex. In the story, aired in March, Seven’s current affairs program reported the NSW Fair Trading Commissioner Rod Stowe as having issued a “public warning” about the company, which he had not done. Stowe had only spoken generally about online flower sellers, but had mentioned Bloomex as an example of a company that had complaints against it. Seven Adelaide agreed with the Australian Communication and Media Authority it would use the decision in future training on the code for its staff, and has corrected the story on its website.
Fairfax’s Domain spin-off a step closer. The spin-off of Domain from Fairfax Media moves a step closer with the Federal Court signing off on the deal yesterday, meaning that from November 16, trading in Domain shares on a deferred basis will take place. That will give us the first idea of what value the market places on the company, the value for Fairfax and the proportion of value Domain has in the Fairfax asset base compared with the value of the other assets — mainly the newspapers, 50% plus of Macquarie Media, the 50% stake in Stan (with Nine Entertainment) and some odds and sods (such as the events business).
The possible drop is around $130 million, depending on the rate of fall for the rest of the year’s revenues, not the $180 million in yesterday’s Crikey (based on the September trading update and the annual report). This does not take into account the changes associated with the partial sale of Domain and how that is accounted for by Fairfax. — Glenn Dyer
The billionaire who destroyed his newsrooms out of spite. Last week, US billionaire Joe Ricketts shut down two local news websites he owned, DNAinfo and Gothamist, a week after the staff voted to join a union. Hamilton Nolan has summed up the saga for The New York Times:
“One week after the New York team unionized, Mr Ricketts shut it all down. He did not try to sell the company to someone else. Instead of bargaining with 27 unionised employees in New York City, he chose to lay off 115 people across America. And, as a final thumb in the eye, he initially pulled the entire site’s archive down (they are now back up), so his newly unemployed workers lost access to their published work. Then, presumably, he went to bed in his $29 million apartment.”
For sale: 20th Century Fox. Desperation at Chez Murdoch? On the eve of its first quarter earnings report, there is stunning news that the Murdoch family has been thinking of selling its film studio and TV businesses to rival Disney. CNBC reports that the Murdochs had been holding talks to hang onto Fox Sports and the Fox News Channel, but sell 20th Century Fox studios, which Rupert Murdoch bought in 1985. The news could prompt rivals Comcast (NBC Universal), or even Apple, Amazon or Netflix to emerge as possible buyers. Reports say the talks are not current. Selling off the business would be the biggest change in the Murdoch empire since it split News Corp in June 2013 into 21st Century Fox and News Corp. Now 21st Century Fox is trying to buy the 61% of Sky it doesn’t own for about $17 billion. Media reports say the Disney talks included buying the Sky stake from Fox, a move that would obviate the need for a mop-up offer. Disney’s possible ownership would face fewer hurdles in Britain than the present attempt from Fox which is stuck in renewed scrutiny by UK media and competition regulators.
Shares of 21st Century Fox jumped more than 7% (after being down more than 6% up to last Friday). Disney shares fell 1% and are down more than 4%. It is hard seeing any deal eventuating because the Murdochs do not like selling assets. The Fox Studios and TV businesses have been part of the company for more than 30 years. In the past Disney has talked to other media groups, including Netflix. — Glenn Dyer
Glenn Dyer’s TV Ratings. Another win for Seven, with the ABC up to second overall. It was the second night in a row that the ABC’s offerings powered it to a solid finish in the main channels. Four Corners’ report on the Paradise tax papers averaged 1.12 million national viewers — a good sign of the wide interest among viewers. It won the 8.30pm timeslot easily. Australian Story’s first part of two about Mike Willesee’s life and his struggle with throat cancer did very well — 1.26 million viewers nationally. It was well done and a reminder of his brilliant career.
Seven’s Liar continues to sink — 710,000 national viewers — as does Nine’s Family Food Fight — 708,000 national viewers. All will fade away. Seven’s The Wall got 1.08 million viewers across the country — remember it had more than 1.56 million viewers on its first outing and over 1.3 million second time around. It costs a bit of money and must be starting to approach, or fall below, the ratings/break-even point. Have You been Paying Attention? on Ten is far more cost effective and got 884,000 national viewers last night.
In regional markets Seven News was on top with 568,000 viewers, followed by Seven News/TT with 458,000, Home and Away was third with 437,000. The Wall was fourth with 395,000 and Australian Story was fifth with 390,000. –– Read the rest on the Crikey website
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