Gregory Fraser is an American poet... (wikipedia)
Low single-digit growth in the overall advertising market will be the bar for all media companies to try and get over.
The conundrum I'm trying to solve is whether paying $750 million to defend $170 million in classified revenue is actually a good deal or not.
Anything becomes possible if you've got a big enough check. It's hard to predict who might take over who and why.
Australia needs a level playing field in terms of investment and innovation ... so that broadband penetration and digital penetration generally can catch up with the rest of the world.
They paid a big price. It has a sniff of a panic buy. New Zealand is a small market and I can't see what they can do to grow the business.
It was disappointing that Australian EBIT was down.
It looks like a big price to pay for something that is defending their own revenue.
That reflects the soft New South Wales market, but the result could have looked a lot worse if not for New Zealand.
The Internet is starting to change the media landscape, making what previously looked like straight-forward acquisitions much more difficult.