The Australian apologises for claiming Ten chairman sold shares before calling in administrators
The Australian newspaper has issued a comprehensive apology to the chairman of Ten Network David Gordon after wrongly claiming that he had sold most of his shares in the company in the months before it went into administration.
Yesterday’s story by media editor Darren Davidson, which led The Australian’s Media section, wrongly alleged that Gordon had sold 88% of his shares in the troubled company before it called in the administrators. The newspaper also published online a series of reader comments on the story suggesting that the alleged actions amounted to insider trading.
The mistake – one of the biggest factual blunders since Paul Whittaker became the newspaper’s editor-in-chief 18 months ago – came about because Ten consolidated its share register a year ago, swapping ten shares for one, reducing every shareholder’s number of shares by 90%.
Yesterday’s incorrect story about David Gordon
This is what happens when you have a journo and an editor so desperate to toe the company line at all costs.
Financial reporting 101. Is there a more incompetent journo in the media space today than Darren Davidson?
Well there’s always Stephen brooks.
people have been sacked (or made redundant) for less. brings shame on Newscorps “premium brand”
Astounding that no one at the Oz thought to check or inquire of Davidson about this claim.
And astounding if Davidson still has his job. Trainees who have made lesser mistakes have been sacked for them.
No wonder the Australian’s become the newspaper of choice for greying conspiracy theorists and few others.
how do we expect him to fact check without his iPad?
This is what happens when you make your experienced business editors redundant and replace them with junior jobsworths. Sooner or later it bites you on the bum. Hard.
It was only a matter of time before the lack of experienced journalists at the Oz resulted in such a monumental blunder
The Oz has lost several of its top business editors in recent years. Geoff Elliott, Phil Ayling etc. The results are plain to see almost every day.
The smart guys collect the redundancy money and walk into another job. That leaves the numbnuts in charge to make these colossal cock-ups.
Wonder if they would be as quick to apologise for other mistakes.