Retiring Chris Mitchell expects The Australian to be ‘back to the black’ by end of financial year
Outgoing editor of News Corp’s The Australian Chris Mitchell expects the national broadsheet to “be back to the black by the end of this financial year” however he does not believe that challenges are over for the wider print media industry.
The statement comes after it was revealed last year the newspaper had not turned a profit since the global financial crisis in 2008.
Speaking to ABC’s Radio National Media Report program on the eve of his last day in the editor’s chair at The Australian, Mitchell said: “Our revenue over the last two years has recovered quite dramatically. We’ve improved our commercial team under Nicholas Gray.
“We’re up about $32m a year in revenue so the total revenue for the paper is $130m this year, we can make a viable business out of $130m.
Who is he kidding?
Let’s wait to see how Darren Davidson builds this into his next “news” report from Holt St.
You were a great support but a tough gatekeeper when, as the Oz’s night editor, you reviewed my pocket cartoons 25 years ago. Frank Devine had impressively huge shoes to fill, and you did it more than admirably. Congratulations on ‘retirement’.
I wonder how the Lenin Medal will feature in his bio. A towering moment? Also vastly amused that he claims a 32% hike in revenue this year. Really.
Fact is that the only reason the Oz gets any attention is the sad demise of the SMH and The Age, followed more recently by the collapse of the Fin Review. In fact its a very sad day when the same ABC Media Report had supposed journalistic leaders citing BuzzFeed etc as substitutes for these once reliable news sources.
The Australian may have a loyal audience but they are also have an exclusively white, wealthy and aged audience that won’t be around forever.
That line about their mission statement saying they don’t support any particular party….that’s quite brazen to think anyone will swallow it.
An alcoholic may have a “mission statement” not to drink every again but just saying it doesn’t make it so. If the paper continues to behave as the media arm of the dry liberal’s I can’t see it lasting much longer.
The trouble is it’s not just campaigning, it’s bullying and all-out vendetta journalism. And for a so-called traditional newspaper it is hugely selective in its coverage, only publishing those news articles that don’t contradict its editorial line. Most recent example is the ‘campaign’ against ICAC and Megan Latham. They’ve been covering every apparent misstep, with Sharri Markson enthusiastically tweeting anything she can find that puts ICAC in a bad light. Then yesterday ICAC had a major victory in the Supreme Court, including a judgement that found Latham had been ‘scrupulously fair’. Silence from The Oz and Sharri.
Mitchell’s own words make plain his selective approach to news. His interview theme was oppositional in the same way that Abetz and Abbott and co separate themselves from their perceived enemies. Mitchell is a campaigner in the same way Hearst editors were campaigners. He sings the tune written for him.
He just set up whoevers problem it is to not get to $130m