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Australian News Channel

From Wikipedia - Reading time: 8 min

Australian News Channel Pty Ltd.
Company typeSubsidiary
IndustryMedia
Founded1995; 29 years ago (1995)
Headquarters
Sydney
,
Australia
Areas served
  • Australia
  • New Zealand
Key people
Paul Whittaker, CEO
ServicesNews broadcasting
A$2.1 million (2015–16)
Total assetsA$25 million (2015–16)
Number of employees
204 (2015–16)
ParentNews Corp Australia
Websiteaustraliannewschannel.com.au

Australian News Channel Pty Ltd. is an Australian privately held subsidiary of News Corp Australia which owns media properties operating in Australia and New Zealand.

The company owns news broadcasting channel Sky News Australia, its sister channels Sky News Extra and Sky News Weather Channel, New Zealand News Channel (which operates Sky News New Zealand) as well as international streaming service Australia Channel.

History

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Origins

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Australian News Channel Pty Ltd (ANC), was founded in 1995 when Sky News Australia was launched. It was owned by British Sky Broadcasting, Seven Media Group and Publishing and Broadcasting Limited.[1]

In 2013, ANC granted A$20 million in funding to Sky News Australia to be used over three years.[2]

In 2014, ANC partnered with Globecast to launch an international streaming service Australia Channel, which broadcasts five channels to subscribers outside Australia.[3] It was launched after ANC bid to operate the Australian Government funded Australia Network contract, before the tender was controversially scrapped.[4]

Until 2015, Sky News was responsible for producing New Zealand's Prime News – First at 5:30 from Sydney, hosted by Eric Young with filming taking place in Prime's Albany studios. It lost the contract to MediaWorks and subsequently ceased broadcasting a local New Zealand bulletin.[5]

With the carriage deal between Australian News Channel and dominant subscription television platform Foxtel due to expire in 2017, reported as either February[6] or December,[7] media speculation increased that News Corp Australia, which co-owns Foxtel, would attempt to acquire a majority stake in the company. On 26 February 2015 it was reported that News Corp Australia launched an A$25 million bid for full ownership of Australian News Channel.[8]

In June 2015, it was reported that ANC's stakeholders had rejected a News Corp takeover offer of A$20 million, with the owners wanting a minimum of A$50 million.[9] Following a breakdown in a News Corp buyout, further reports suggested Nine Entertainment could sell its stake to a joint arrangement between Seven West Media and News Corp.[7]

Acquisition by News Corp

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The entire company was acquired by News Corp Australia in December 2016.[1][10] In December 2017, it was reported that News Corp and Telstra were in a carriage dispute over the price Foxtel pays to carry Sky News channels after the existing deal expired at the end of the calendar year, worth over A$30 million per year. News Corp was requesting an increase to the Sky News carriage fee, which has not been raised for more than a decade, while Foxtel co-owner Telstra was opposed.[11] A new deal was agreed upon and transmission was not interrupted.[12]

Assets

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Domestic free-to-air
  • Sky News Regional
Outside Australia
  • Sky News New Zealand
  • Australia Channel (with Globecast)

References

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  1. ^ a b "News Corp buys Sky News in Australia and New Zealand from Seven and Nine". The Sydney Morning Herald. 1 December 2016. Retrieved 1 December 2016.
  2. ^ Davidson, Darren (28 January 2013). "Sky widens coverage as investors rain cash". The Australian. Retrieved 28 January 2015.
  3. ^ Knox, David (8 September 2014). "SKY News to launch online news channel (but not for Aussie viewers)". TV Tonight. Retrieved 11 January 2017.
  4. ^ "Sky surprised by 'premature' tender termination". ABC News. 9 November 2011. Retrieved 11 January 2017.
  5. ^ "Prime News production moves to NZ". stuff.co.nz. 23 January 2015. Retrieved 25 March 2016.
  6. ^ Davidson, Darren (26 February 2015). "$25m Sky bid not fair value: Gyngell". Business Spectator. Retrieved 26 February 2015.
  7. ^ a b Thompson, Sarah (9 October 2016). "Nine to switch off Sky News sooner rather than later". Australian Financial Review. Archived from the original on 9 October 2016. Retrieved 10 October 2016.(subscription required)
  8. ^ Christensen, Nic (26 February 2015). "Reports News Corp Australia to launch $25m bid for Sky Channels". Mumbrella. Retrieved 26 February 2015.
  9. ^ Knox, David (22 June 2015). "Report: Shareholders reject $20m offer for SKY News". TV Tonight. Retrieved 23 June 2015.
  10. ^ Davidson, Darren (1 December 2016). "News Corp seals Sky takeover". The Australian. News Corp Australia. Retrieved 1 December 2016.
  11. ^ Samios, Zoe (19 December 2017). "Foxtel merger with Fox Sports in jeopardy as owners News Corp and Telstra clash over Sky News fees". Mumbrella. Retrieved 19 December 2017.
  12. ^ Samios, Zoe (3 January 2017). "Foxtel owners News Corp and Telstra agree to Sky News deal". Mumbrella. Retrieved 9 January 2017.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Australian_News_Channel
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