Nine’s debt woes… only on Seven
Seven News was so keen to tell its viewers about the state of Nine's affairs it even suggested there would be no money for new shows.
- Published by David Knox
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Nine’s crippling debt may be valid business news (as indeed this site did yesterday) but Seven News was so keen to tell its viewers about the state of affairs it even slapped an “Only on 7” watermark on it.
In Sydney the story on Wednesday was introduced by Mark Ferguson, who was memorably dumped as weeknight newsreader by Nine.
Media Commentator Mark Day even said, “All the money they make goes onto debt, so they’ve got no money left for new programming or staff.”
Crikey. Better tell that to the people working on the 2012 Programming Launch, which will take place later this month.
It’s true parent company CVC Asia has mounting debts. It’s true Nine needs to perform better in 2012 than in 2011.
But it’s not true to suggest there will be no new programming or that staff aren’t being hired.
Amended.
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18 Responses
Personally I think Seven are getting a little concerned about Nine. Sure it’s been a clean sweep of the year for them but Nine have introduced programming modules that are working.
Celebrity Apprentice is a hit for Nine, as was The Block, TBBT isn’t going anyway and yet still is one of the top shows (episdoes) and for some strange reason viewers are returning to watch 60 minutes. The second half of 2011 I believe Nine have been testing the waters to see what works and what doesn’t (Ben Elton & Joy of Sets). They’ve got their answers and now are just waiting to implement the strategy in 2012 so it must just be a closer race than many people think next year.
D@GP,
Conroy will have to scrap the 75% reach laws before ol’ Brucey boy will be WINing over the rest of Nine he doesn’t own. 🙂
People who say that Nine won’t be able to buy programs (or pay staff) because they have a reasonably large debt, either have no idea how business and debt works or are being disingenuous (as Seven are).
Ordinary people might be paying off a debt of $500k (mortgage) but only have an annual salary of $80k, yet can still manage to buy food and pay their bills. It’s no different for Nine or any other business except that the numbers are larger.
As long as Nine can keep servicing the debt or refinance it, they will still be able to invest in quality show such as Cops LAC and Live From Planet Earth, purchase gems such as Same Name and $#*! My Dad Says, and pay an epileptic darts player to schedule these for our viewing pleasure 10 minutes after advertised.
oh 7. You just can’t help yourself
Its stories like this that ensure that I dont actually watch the news on 9 or 7 anymore.
As for ACA or TT, I dont watch them because I get a lower home insurance premium. Its due to the fact that every time they come on, i want to damage my TV.
This story was also shown in melbourne too, but it didn’t have “only on 7” on the screen!
It was shown on melbounre’s too
All the shows you list Will are amongst the top rating shows of the week. I suspect their major fault is to have the audaciousness to not be to your taste. How dare Seven make something you don’t like!?
Nine and it’s parent company are in a serious financial mess, there is no doubt about that. Kerry Stokes said in the Fin. Review “it saddened him to see this”. Yeh right! I don’t hink you are sad Kerry. Putting the ‘only on 7’ was tacky.
what schoolyard childishness.
When they are down, kick hard!! Mr Packer sold at the right time
Should we be surprised??? I mean A Current Affairs and Today Tonight are always trying to out rate each other by using low handed tactics so why shouldn’t they report one anothers financial misfortunes just to berate themselves further????
Mark Ferguson, who was not memorably sacked by Nine, he resigned not long after being pushed aside as there main news reader
Despite my hatred for some of nine’s shows it doesn’t even compare to the crap they air on channel seven i.e. packed to the rafters (un-groundbreaking drama), home and away (set in a town where a tsunami, cyclone, plane crash and bomb explosion has happened) and Better Homes and Gardens (where curtains are made from plastic bottles)!
Only on Seven… the news no-one in Sydney watches any more, because they’ve all gone home to Nine News.
Bit tacky with the ‘Only on 7’ where they really afraid Nine would take credit for the story?
Looks like Bruce Gordon might pick up a bargain in the impending fire sale.
I wonder if Jamie included a “buy-back” clause like Kerrie did when he sold out to Bond Corp?
I’m fully expecting Nine to announce that all the late changing non announced program changes are hurting the channels bottle line, and they promise not to do it in 2012
And like showing sport in HD on Gem, they will break their promise.