Is channel 9 going broke? - not anymore.

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globaleagle

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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
 
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.
 
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.
 
RE: Is channel 9 going broke?

Chip and Chase said:
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.

I guess you're right. Probably the usual competitors circling around.
 
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.
 
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?
 
RE: Is channel 9 going broke?

Are ch9 permitted to sell any of their 3 games a week, to other FTA broadcasters?
 
RE: Is channel 9 going broke?

Chip and Chase said:
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.

And what you read on footy forums...and that's OFFICIAL!!!
 
RE: Is channel 9 going broke?

MadMarcus said:
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.


Thanks for that. Shall wait for the 'official' word, as it seems!
 
RE: Is channel 9 going broke?

The Who said:
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?

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.
 
RE: Is channel 9 going broke?

maybe James packer will get his 'alan bond' deal like his dad did....with ...alan bond
 
RE: Is channel 9 going broke?

MadMarcus said:
The Who said:
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?

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.

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.
 
RE: Is channel 9 going broke?

MadMarcus said:
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.
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.
 
RE: Is channel 9 going broke?

globaleagle said:
maybe James packer will get his 'alan bond' deal like his dad did....with ...alan bond

Perhaps....if he hadn't blown such a large amount of that money on casinos.
 
RE: Is channel 9 going broke?

Hamster Huey said:
globaleagle said:
maybe James packer will get his 'alan bond' deal like his dad did....with ...alan bond

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

Really? How do you lose money owning a casino?
 
RE: Is channel 9 going broke?

globaleagle said:
Hamster Huey said:
globaleagle said:
maybe James packer will get his 'alan bond' deal like his dad did....with ...alan bond

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

Really? How do you lose money owning a casino?

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.
 
RE: Is channel 9 going broke?

MB = James Packer!

His dad would be spinning in his grave.

(thanks for the explanation)
 

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