The Australian editor reveals ‘$30m loss’ last year as ABC stoush rumbles on
The editor of News Corp Australia’s national broadsheet The Australian has revealed it lost $30m last year during an ongoing feud with the ABC’s Media Watch program which has raised questions amongst company insiders.
The ABC Media Watch yesterday issued a correction on its website addressing claims on the program ten days ago The Australian is losing around $40 million to $50 million a year, and published correspondence between editor-in-chief of The Australian Chris Mitchell and host Paul Barry which shows the newspaper lost $30m last financial year and hopes to halve that loss to $15m this year.
In a carefully worded statement on its website Media Watch said: “(it) accepts that the insiders’ figure of $40 million to $50 million was too high. However, we do not accept it was ‘absurd’ or ‘hopelessly wrong’ as The Australian’s Strewth column claimed on 18th February, or that it was ‘ridiculous’, as Chris Mitchell asserted on 24th February. Nor does Media Watch accept Chris Mitchell’s claim that Paul Barry deliberately misled his audience.”
News Corp Australia insiders have told Mumbrella that many senior people inside the company have privately questioned the wisdom of Mitchell’s decision to engage Barry in a stoush over the size of the loss. One executive described it as: “A complete own goal – God only knows what Chris was thinking.”
The ABC used to have a way to communicate clarifications and corrections to its audience. It was a weekly “viewer reaction” show called “Backchat” hosted by Tim Bowden between 1986 and 1994.
What I would love to know is what has happened to the paid circulation of The Australian since it veered so violently to the extreme right.
I used to read it because I believe it is important to know about beliefs that are not necessarily the same as my own, and because of the high quality of the newspaper. But over time, it became impossible to figure out what was news and valid comment, and what was an hysterical outpouring. I cannot believe that there was not a significant decline in circulation at this point. I wish Chris Mitchell would provide some readership figures for the past three years.
I also wonder whether The Australian will survive the death of Rupert Murdoch, whose most significant achievement was to establish a high quality national newspaer.
@ Storyteller total figures are here
http://www.newscorpaustralia.com/brand/australian
and here http://www.auditedmedia.org.au.....cation/220
112,269 Average Paid net sales
You’re well named, Storyteller, because if you think The Australian is “extreme right” you’re living in fairlyland.
Same guy claimed previously that the oz was a positive in news ltd profitability. Then argued it was a big contributor through recharges. I am now wondering if he actually knows what profit is ?
Hang on. Today’s Oz has yet another yarn, page one promo, on the need for the ABC to apologise or correct Media Watch. Hello?
It was Mitchell who said the Oz was a profitable contributor to News Ltd results. Then he said it was financially viable because it covered overheads or recharges or something (gobbledegook). Now he confirms in writing that it lost $30m or more last year.
And just what was he thinking when he gave that interview to Ms Markson [edited by Mumbrella]? Not to mention the email trail with Barry, which ends on such a sad, plaintive note…
Earth to Chris….Come In Chris……..?????
The Australian is little better than it’s tabloid cousins.
Another failing newspaper that won’t be missed when Rupert or his successors at News Corp eventually pull the pin on the money sinkhole