ASIC alleges Harold Mitchell told Seven details of Ten’s interest in 2013 tennis rights
Harold Mitchell, once one of the most powerful media executives in Australia, has been accused of sharing details of Network Ten’s interest in the 2013 Tennis Australia broadcasting rights to rival television network and bidder, Seven.
According to documents filed with the Federal Circuit Court of Australia, The Australian Securities and Investments Commission (ASIC) is alleging Mitchell advised the board along with Steve Wood, then CEO of Tennis Australia, that the broadcasting rights should remain with the Seven Network, despite their bid being significantly lower than Network Ten’s.
If true, Mitchell has trashed his legacy. Can’t see how he can remain chair of FreeTV either. What a sad way to end a career.
Just doing what they hired him for. Nepotism would have been in the first line of the job description.
‘Before we all rush to pass judgement, why don’t we just wait and see what is revealed in the proceedings’ – Linda Chamberlain
The concise statement of ASIC’s case against Harold can be read here:
https://download.asic.gov.au/media/4941092/18-346mr-concise-statement.pdf
I’d say Harold won and his reputation is in tact.
If the 3 minor findings against him [out of 40+ charges] say anything – it’s that ASIC would’ve been better off learning a bit about the sponsorship and media buying and selling business, before they started making accusations. All Harold proved is that in the rough and tumble of the media world, a dollar in the hand is worth two in the bush.