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Is channel 9 going broke? - not anymore.

Discussion in 'Rugby League Forum' started by globaleagle, Sep 26, 2012.

  1. globaleagle

    globaleagle Où est mon chapeau Premium Member 2016 Tipping Competitor

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    If so what does this mean to the new agreement?

    I'm kinda out of the Aussie loop but thanks to the internet (which I invented btw - don't bother looking that up) I found the below article:


    IT WAS once the cornerstone of Kerry Packer's multibillion-dollar fortune, but after two full days of talks among creditors Channel Nine was last night still fighting to stave off bankruptcy.

    Read more: http://www.theage.com.au/business/channel-nine-on-brink-as-banks-circle-20120925-26jpx.html#ixzz27WhaRxKI
     
  2. Chip and Chase

    Chip and Chase True Supporter Staff Member Administrator Premium Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    Doesn't look good, but you have to take everything you read in the media with a grain of salt.

    If Jamie is as smart as his old man he'll buy it back for a song.
     
  3. WAMF

    WAMF Well-Known Member

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    RE: Is channel 9 going broke?

    Yes, read this in the SMH this morning.
    They should get rid of the dead wood, like Eddie Mcguire and Karl Stephanovovovic. That'll save them half a billion a year.

    I'd also sack Gus Gould, Ray Warren, Ray Hadley, Richard Wilkins, the screaming queen that does the US gossip and I'd probably piss off Layla Mckinnon (for being the bosses slapper).

    Of course the 9 execs will site the companies poor performance and spiralling debt on the legal and illegal downloading of content and a general drop off in viewers for their demise but the real reason 9 and the other networks are in trouble is because they have failed to adapt their business model to suit the current age and refuse to listen to their audiences . FTA broadcasters still feel they can dictate what shows we watch and when we watch them. Those days are well and truly over. What a complete bunch of fat cat fools.
     
  4. globaleagle

    globaleagle Où est mon chapeau Premium Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    I guess you're right. Probably the usual competitors circling around.
     
  5. MadMarcus

    MadMarcus Local Lunatic 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    To answer your question GE there is a lot of detail missing from the article so we don't know much about what is happening at Nine, but the new agreement could very well be at risk if the situation is as dire as it sounds.
     
  6. The Who

    The Who Well-Known Member

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    RE: Is channel 9 going broke?

    Not according to the NRL who say they knew exactly the financial position of Nein before signing the agreement.
    However, they would say that, wouldn't they?
     
  7. WAMF

    WAMF Well-Known Member

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    RE: Is channel 9 going broke?

    Are ch9 permitted to sell any of their 3 games a week, to other FTA broadcasters?
     
  8. mozgrame

    mozgrame Well-Known Member

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    RE: Is channel 9 going broke?

    And what you read on footy forums...and that's OFFICIAL!!!
     
  9. globaleagle

    globaleagle Où est mon chapeau Premium Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?


    Thanks for that. Shall wait for the 'official' word, as it seems!
     
  10. WAMF

    WAMF Well-Known Member

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    RE: Is channel 9 going broke?

    It's 'OFFICIAL', Ch9 suck!!!
     
  11. DSM5

    DSM5 Well-Known Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    I'd bet on Tinkler going under as well.
     
  12. MadMarcus

    MadMarcus Local Lunatic 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    Yeah right... as if the NRL knew anything.

    http://www.theaustralian.com.au/media/nine-warns-creditors-on-nrl-if-talks-fail/story-e6frg996-1226480582335

    Normally a contract like the NRL rights would contain a provision allowing the NRL to terminate if a receiver was appointed to Nine. Nine appears to be using that as a threat to its creditors in the current discussions based on the above article.

    Of course the reality is that the NRL would exercise their right to terminate if they had another offer on the table or if it was of the view that Nine would not be able to pay.

    If a receiver is appointed I would expect the NRL to sit on its hands for a while and see how it plays out unless one of the other networks tables a good offer to the NRL.
     
  13. globaleagle

    globaleagle Où est mon chapeau Premium Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    maybe James packer will get his 'alan bond' deal like his dad did....with ...alan bond
     
  14. Peter C

    Peter C Well-Known Member

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    RE: Is channel 9 going broke?

    The same thing happened in the early 1990's, TEN had the rights and went broke, the League had no option but to accept a reduced offer from NINE, who at the time was only interested in S of O, NINE then onsold the weekly fixtures to TEN who ended up paying more, and also the tests to SEVEN.
    Trouble is, if NINE go into administration,I doubt it if they would pay the same amount, which then leaves the league vulnerable to reduced offers from the other networks.
     
  15. SeaEagleRock8

    SeaEagleRock8 Sea Eagle Lach Staff Member Premium Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    Why would anyone make a good offer? The NRL wouldn't have much bargaining power if Nine felll over, so another network may end up with the rights for a very low deal, even if only for a year or two.
     
  16. Hamster Huey

    Hamster Huey Space Invader Premium Member

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    RE: Is channel 9 going broke?

    Perhaps....if he hadn't blown such a large amount of that money on casinos.
     
  17. globaleagle

    globaleagle Où est mon chapeau Premium Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    Really? How do you lose money owning a casino?
     
  18. ManlyBacker

    ManlyBacker Winging it Staff Member

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    RE: Is channel 9 going broke?

    By building new casinos that are replaced by someone else's newer casinos where the whale money then gets enticed to is one way. The other way is paying overs for a whole lot of US second tier tired casinos. He has dropped almost $500M on that alone. Casinos are built using borrowed money and they run into the many billions. A down-turn in China's fortunes, regulation on mainland travel to Macau and general global uncertainty means it can be seriously risky. He has put the entire lot on Black but it may drop onto a Red number.
     
  19. globaleagle

    globaleagle Où est mon chapeau Premium Member 2016 Tipping Competitor

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    RE: Is channel 9 going broke?

    MB = James Packer!

    His dad would be spinning in his grave.

    (thanks for the explanation)
     
  20. Mark from Brisbane

    Mark from Brisbane Living the dream Premium Member

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    RE: Is channel 9 going broke?

    Couldn't happen to a nicer arsehole!!
     

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