Australia’s old media companies are rapidly dying and the reason we know that is because the old media are the ones reporting it.

Of course, the old media put their own spin on why they are in big trouble. But the old media refuse to stop reporting lies and propaganda as “news” which is what undermines their business strategies as their audiences as sick of it and are migrating to independent journalists and new media.

An example of the old media reporting their own decline is a report in the Nine Entertainment owned newspaper and website The SMH on Tuesday (11/5/24) which says:

“Shares in Seven West Media, which is controlled by billionaire Kerry Stokes and which owns the Seven Network, have fallen almost 55 per cent over the past year against Nine, which is down some 30 per cent.”

“Some of Nine’s recent share price performance probably relates to the cultural crisis now engulfing it thanks to the recent revelations that unreported bullying and harassment had been going on for years – nurtured by a culture that allowed an alleged perpetrator or perpetrators to continue in an environment where their behaviour was an open secret.”

Seven West Media’s shares have fallen from 41 cents to 18 cents in a year and there is no light at the end of the tunnel.

Nine have also reported “the Ten Network is operating at a near-permanent risk of collapse”.

Nine and News Corp are doing better than Seven and Ten, but they still have major problems. Nine’s 30% share price drop over the last year has cost shareholders close to a $billions in value and News Corp are currently going through another major round of sackings which seems to be never ending.

Nine continue to cover-up sexual harassment and sexual assault of female staff

I published an article on the 30th of May 2024 titled “Nine Chairman Peter Costello orders the cover-up of alleged sexual assaults of numerous female journalists at Channel 9” and the cover-up continues even after Costello’s resignation.

Peter Costello was forced to resign as Chairman of Nine Entertainment on Sunday after pushing a journalist over who was asking Costello about the fallout from the sexual assault and sexual harassment cover-up at Nine as per the below video: 

You would think at some point Nine would stop lying and trying to cover-up the sexual harassment and sexual assaults that have been covered up at Nine for years.

But no, an editorial called “The Heralds View” was published on 10th of June 2024 and it is total rubbish and a poor attempt to deflect from Nine being exposed for its scandalous culture and management failure.

Below is an extract of the SMH’s “Editorial – Peter Costello had to go. And thank goodness he has”:

Everyone with half a grip on reality knew Peter Costello’s tenure as Nine Entertainment chair was over the moment footage emerged of the former federal treasurer dropping his shoulder and barging into a reporter at Canberra Airport last Thursday. Everyone, that is, except for Costello himself.

The encounter followed a fortnight of intense pressure over whether Nine had done enough to deal with the “open secret” of how Nine’s former television news and current affairs director Darren Wick behaved towards female colleagues.

Costello will not be mourned by the majority of those who work at Nine. Indeed, the Herald believes his tenure is a case study in why ex-politicians often do not make good company directors. As one example, Costello’s public criticism of Labor Treasurer Jim Chalmers sat awkwardly with the need for a chair of a major media organisation to have a constructive relationship with such an important external stakeholder.

His presence on the Nine board was also a source of concern for loyal subscribers suspicious of the influence a former Liberal treasurer would have over the company’s mastheads, and source of frustration for editorial staff who had to frequently reassure readers and stakeholders that our independence remained a guiding principle of how we operate.

A recent damning report by the Herald’s chief investigative reporter Kate McClymont, which examined how Wick allegedly treated women, is proof our independence remained unaffected by Costello or other board members and executives. And while News Corp has done some solid reporting on the Wick affair, it’s impossible to imagine Rupert Murdoch’s company covering its own cultural problems in such a forthright and honest manner.  (Click here to read the full article)

One of the key issues is that Darren Wick was allegedly sexually harassing and assaulting females at Nine for years but Nine try to claim that an article written by Kate McClymont 2 weeks ago “examined how Wick allegedly treated women, is proof our independence remained unaffected by Costello or other board members and executives.”

Given Nine admit it was an ““open secret” of how Nine’s former television news and current affairs director Darren Wick behaved towards female colleagues”. Why didn’t “the Herald’s chief investigative reporter Kate McClymont” examine a year ago or five years ago “how Wick allegedly treated women”?

I dissected Nine’s lies in the SMH’s “Editorial” above further in the below video.

Nine treating their readers and views like fools trying to conceal their cover-up of their cover-up of sexual assault and harassment of female staff is disgraceful and that is major reason why they are losing viewers and share price value.

And the rest of Australia’s old media are no better, but the positive is that new media will fill the void when the old media close their doors for good.

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