Channel 9 saved (29)
curly28: Back from the brink media giant now debt free wonder who got them out of the poo
Anyhow at least I'll still be able to see Big BRO every night
I don't mind channel 9 and do like the morning news crew too.
Anyhow at least I'll still be able to see Big BRO every night
I don't mind channel 9 and do like the morning news crew too.
What they did was a debt for equity swap with the American pension funds that loaned the money to the current owners of Nine to buy the business.
Gingell has, in effect, signed over ownership of the network from the purchaser to the lender.
Something had to happen.
It will be interesting to see if Channel 9 continues to pay absurd amounts of money to telecast thugby league and cricket. I would rather watch paint dry that watch either sport.
Carl96190: What they did was a debt for equity swap with the American pension funds that loaned the money to the current owners of Nine to buy the business.
Gingell has, in effect, signed over ownership of the network from the purchaser to the lender.
Something had to happen.
It will be interesting to see if Channel 9 continues to pay absurd amounts of money to telecast thugby league and cricket. I would rather watch paint dry that watch either sport.
Gingell has, in effect, signed over ownership of the network from the purchaser to the lender.
Something had to happen.
It will be interesting to see if Channel 9 continues to pay absurd amounts of money to telecast thugby league and cricket. I would rather watch paint dry that watch either sport.
Yeh it will be interesting makes you wonder just how on earth they can get so deeply in debt in the first place.
curly28: Yeh it will be interesting makes you wonder just how on earth they can get so deeply in debt in the first place.
Think there will be a few very nervous presenters, personalities, 'stars' at Channel 9, especially if your contract is up for renewal??
Kerry Anne might have got out at a good time?
Didn't they just cover the Olympics? That was probably money they could use right now?
Australia needs Channel 9, and every other channel for some variety??
curly28: Yeh it will be interesting makes you wonder just how on earth they can get so deeply in debt in the first place.
Easy.
The purchaser paid $4 billion for the business, which was borrowed money.
The business was not producing enough money to service the debt and provide any sort of return to the investors.
Alan Bond made the same mistake when he bought the Nine network from Kerry Packer.
At the same time as loading the business up with an unpayable debt, the Australian economy began to collapse . . . so advertising revenue has been plummeting toward the bottom of the graph for the past four years.
The new owners of Nine were caught between a debt that they could not service and falling revenue.
Something had to give.
They have essentially signed over the business to the lenders. Such is life.
Goes to show that there can be farkwits on mahogony row, as well as down in the cheap seats with the peasants.
Newlife08: Think there will be a few very nervous presenters, personalities, 'stars' at Channel 9, especially if your contract is up for renewal??
Kerry Anne might have got out at a good time?
Didn't they just cover the Olympics? That was probably money they could use right now?
Australia needs Channel 9, and every other channel for some variety??
Kerry Anne might have got out at a good time?
Didn't they just cover the Olympics? That was probably money they could use right now?
Australia needs Channel 9, and every other channel for some variety??
For some folks it will I just use 9 for morning news and Big BRO. I have foxtel 90 chanels so don't think it will affect me a great deal.
Newlife08: Didn't they just cover the Olympics? That was probably money they could use right now?
That was Channel 7. Fools.
Carl96190: That was Channel 7. Fools.
Errrm no carl - think it was Channel 9.
Wasn't Leila McKinnon, Grant Hackett, and Ken Sutcliffe there?
Just googled it and yes it was 9.
Think it is very rude of you to use the term 'Fools' or was that referring to Channel 7 (in error) for covering the Olmpics?
Carl96190: Easy.
The purchaser paid $4 billion for the business, which was borrowed money.
The business was not producing enough money to service the debt and provide any sort of return to the investors.
Alan Bond made the same mistake when he bought the Nine network from Kerry Packer.
At the same time as loading the business up with an unpayable debt, the Australian economy began to collapse . . . so advertising revenue has been plummeting toward the bottom of the graph for the past four years.
The new owners of Nine were caught between a debt that they could not service and falling revenue.
Something had to give.
They have essentially signed over the business to the lenders. Such is life.
Goes to show that there can be farkwits on mahogony row, as well as down in the cheap seats with the peasants.
The purchaser paid $4 billion for the business, which was borrowed money.
The business was not producing enough money to service the debt and provide any sort of return to the investors.
Alan Bond made the same mistake when he bought the Nine network from Kerry Packer.
At the same time as loading the business up with an unpayable debt, the Australian economy began to collapse . . . so advertising revenue has been plummeting toward the bottom of the graph for the past four years.
The new owners of Nine were caught between a debt that they could not service and falling revenue.
Something had to give.
They have essentially signed over the business to the lenders. Such is life.
Goes to show that there can be farkwits on mahogony row, as well as down in the cheap seats with the peasants.
Kerry Packer was very savvy in his Alan Bond deal. Managed to buy it back for less than he sold it. Not likely to happen again as we are now into mega'income deals rather than the long haul.
But being the "Industry Standard" for Autralian TV, hopefully it will not go down the channel 10 path and rely on paid TV to prop it up with crap shows. ABC and SBN (lost it again in last night's winds) seem to be coming up with so many good shows of late.
Newlife08: Errrm no carl - think it was Channel 9.
Wasn't Leila McKinnon, Grant Hackett, and Ken Sutcliffe there?
Just googled it and yes it was 9.
Think it is very rude of you to use the term 'Fools' or was that referring to Channel 7 (in error) for covering the Olmpics?
Wasn't Leila McKinnon, Grant Hackett, and Ken Sutcliffe there?
Just googled it and yes it was 9.
Think it is very rude of you to use the term 'Fools' or was that referring to Channel 7 (in error) for covering the Olmpics?
I am certain that it was Channel 7. I say fools because they paid a gazillion dollars for the rights.
Channel 9 was there, but not in the venues. It was a weird outside-the-venue coverage.
See;
wash2u: Kerry Packer was very savvy in his Alan Bond deal. Managed to buy it back for less than he sold it. Not likely to happen again as we are now into mega'income deals rather than the long haul.
Oh yes. As Kerry Packer said, you only get to meet an Alan Bond once during a lifetime.
Carl96190: I am certain that it was Channel 7. I say fools because they paid a gazillion dollars for the rights.
Channel 9 was there, but not in the venues. It was a weird outside-the-venue coverage.
See;
Channel 9 was there, but not in the venues. It was a weird outside-the-venue coverage.
See;
Well, I am sure that I watched it on nine, because my seven dont work..??
Jeez.
probably means americans now will own and control channel nine
Carl96190: Oh yes. As Kerry Packer said, you only get to meet an Alan Bond once during a lifetime.
Alan Bond was a character. For a poor dumb sign writer, he did show Holmes a Court that you did not have to have a pedigree to make it. Bond's biggest problems were his ego after getting there.
And his reliance on his accountants to manage his affairs legally. They were paid 50% of the tax savings that they engineered. His problem was that as he signed what they put forward and he was responsible for what they put under his nose, after telling him that it was all above board.
Yes, I have had similar, although very small scale in comparison, problems with accountants. After a 3 year battle with the Tax Office, I sacked my accountant because his final answer was "You signed it, not me. I have no responsibilty." I did the battle on my own and finally won.
wash2u: Alan Bond was a character. For a poor dumb sign writer, he did show Holmes a Court that you did not have to have a pedigree to make it. Bond's biggest problems were his ego after getting there.
And his reliance on his accountants to manage his affairs legally. They were paid 50% of the tax savings that they engineered. His problem was that as he signed what they put forward and he was responsible for what they put under his nose, after telling him that it was all above board.
Yes, I have had similar, although very small scale in comparison, problems with accountants. After a 3 year battle with the Tax Office, I sacked my accountant because his final answer was "You signed it, not me. I have no responsibilty." I did the battle on my own and finally won.
And his reliance on his accountants to manage his affairs legally. They were paid 50% of the tax savings that they engineered. His problem was that as he signed what they put forward and he was responsible for what they put under his nose, after telling him that it was all above board.
Yes, I have had similar, although very small scale in comparison, problems with accountants. After a 3 year battle with the Tax Office, I sacked my accountant because his final answer was "You signed it, not me. I have no responsibilty." I did the battle on my own and finally won.
Mmmm, that reminds me... I need to get going on my tax soonish...
curly28: Yeh it will be interesting makes you wonder just how on earth they can get so deeply in debt in the first place.
well if they are silly enough to give away 1million dollars on the hot seat quiz show,it serves them right,in these days of economic uncertainty they should be looking at ways of saving money not giving it awayMerriweather: Mmmm, that reminds me... I need to get going on my tax soonish...
Many years ago when I was doing the mind-games with CSA, and the depression it was causing, I didn't do my tax return that I faithfully did each year. Net result was that they increased my CSA payments based on "projected salary increases."
I queried them about the increase I was supposed to have had with no response (no, I did not have a payrise). As the CSA was part of the ATO, I did the silly thing of assuming they had full access to my tax records (and yes they do). Then it got down to arguements about their assumptions as against the facts. Answer was that they didn't care and "we will do it our way."
Finally did my tax returns after 3 years and it showed that I should not have been paying the amount they said. And they were still demanding the $1.23 outstanding from previous years even though my tax records had clearly showed they had been in error and I had been paying too much over the years.
I am still waiting on a request from the ATO as I haven't lodged a return in the last 4 years. Yeh, they usually owe me money so I am not a high priority. By the way, child support ended more than 10 year ago so I am not on the 'wanted' list.
wash2u: Alan Bond was a character. For a poor dumb sign writer, he did show Holmes a Court that you did not have to have a pedigree to make it. Bond's biggest problems were his ego after getting there.
And his reliance on his accountants to manage his affairs legally. They were paid 50% of the tax savings that they engineered. His problem was that as he signed what they put forward and he was responsible for what they put under his nose, after telling him that it was all above board.
Yes, I have had similar, although very small scale in comparison, problems with accountants. After a 3 year battle with the Tax Office, I sacked my accountant because his final answer was "You signed it, not me. I have no responsibilty." I did the battle on my own and finally won.
you never win with the tax office,they just put you in the backburner until they find something they can pin you down with.Now youve been looked at,youre in theirlittle black book.And dont think they only go back 7yrs,if they cant find anything, they keep going further bac till they do,and that prosess can take 15 yrs or more,and they lumber you with interest.Glazier i know was due to retire this year,hes 67 taxffice looked at him,went back to 1989 found a discrepancy,and because he doesnt have to keep stuff after seven yrs ,he couldnt prove anything,so they fined him,but estimated his average earnings ,and he had to pay interest.Hes now started working againAnd his reliance on his accountants to manage his affairs legally. They were paid 50% of the tax savings that they engineered. His problem was that as he signed what they put forward and he was responsible for what they put under his nose, after telling him that it was all above board.
Yes, I have had similar, although very small scale in comparison, problems with accountants. After a 3 year battle with the Tax Office, I sacked my accountant because his final answer was "You signed it, not me. I have no responsibilty." I did the battle on my own and finally won.
yeah well the tax dept unlawfully took away my tax file number, a 50% / 50% as primary producers, one party's solicitor made a request, then without my knowledge, dept took away my tax file number the thriving pricks.
I sort of followed Allan Bond and Scase affairs, Ronald Regan came out with his stupid new world order and as best as i can tel Australian sunk Bond by welshing on money the government owed Bond in construction of a power generating system in WA.
Scase they sunk him to, America flooded the world with the gold they held in Fort Knock, Australia Interests rate scored to 27% or something.
THe Australian Government was responsible not Bond or Scase
I sort of followed Allan Bond and Scase affairs, Ronald Regan came out with his stupid new world order and as best as i can tel Australian sunk Bond by welshing on money the government owed Bond in construction of a power generating system in WA.
Scase they sunk him to, America flooded the world with the gold they held in Fort Knock, Australia Interests rate scored to 27% or something.
THe Australian Government was responsible not Bond or Scase
Carl96190: Oh yes. As Kerry Packer said, you only get to meet an Alan Bond once during a lifetime.
I know Alan Bond was a crook but in some ways I liked the guy he built the equestrian center in Perth and I have been to and entered many of wonderful horse events and good times & memories which a lot of folks in W.A still enjoy today
On Ya! Alan. As for Osbservation City tower on Scarbrough Beach which he also built what can one say ugly piece of work
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Anyhow at least I'll still be able to see Big BRO every night
I don't mind channel 9 and do like the morning news crew too.