It says something that the most successful
business in the fading Palamedia media empire that once featured David
Koch as a big shareholder and driving force is a magazine and a TV show
that, well, features David Koch as the face and driving force.

The
Seven network TV program of the same name finished up last week after a
successful second season and looks like returning next year. Here’s the
website for the My Business magazine and for Palamedia. There’s more chance of My Business the TV show returning to Seven in 2006 than there is of Palamedia surviving into the new year.

The
share price is tiny, just 3c, which gives a market capitalisation of
only $1 million. The company announced on 30 August it was selling Insto magazine and all its operating businesses, which were not detailed. So what does this mean for My Business?

Is My Business
still a part of the empire? The website might say so, but this is a
company whose communications to the market have varied considerably
over time. Take this part of the Palamedia website which lists the company’s products. The Sky Business Report
is no longer a product. That was sold off (for no money) in early
April, as was the ABIX business referred to on that page. David Koch
might remain contracted to Palamedia, but he no longer does stuff for
Seven News or for Sky. Just what’s going on with this poorly led
company?

A restructure in April was supposed to make the company
cash flow positive and in good health by the end of June. Now the
decision announced on August 30 is designed to place the company in a
position where “proceeds comfortably exceed liabilities.” Hardly a
ringing endorsement for the future.

Will the company make it to its own award next month? That’s assuming it still owns My Business magazine.