How Australia’s media companies are preparing for the media consolidation to come
The next wave of media consolidation is on the way. In this feature based on analysis first published in his Unmade newsletter, Mumbrella editor-at-large Tim Burrowes examines how Australia’s ASX-listed media companies are positioned for the deal making to come
When the media ownership laws finally changed in 2017, it was widely anticipated that a wave of media consolidation would follow.
But after Nine’s blockbuster merger-takeover of Fairfax Media in 2018, the pace slowed dramatically. The only major deal since has been the fire sale of Seven West Media’s Pacific Magazines to Bauer Media, to create Australia’s last big magazine company Are Media. Then Covid put the deal making on hold.
Now, with the impact of the pandemic on media strategies beginning to fade, executives’ minds are again turning to the deal making ahead.
From the ASX listed media companies, the last three weeks of earnings season generated a trove of information. Not just how the companies are doing, and how their CEOs were remunerated during the pandemic, but what they say their strategies will be.