http://www.youtube.com/watch?v=cDvD9bEzDuE&feature=related

don't watch if you're under 15.

Channel Ten boss Nick Falloon says he has spoken briefly to James Packer, but will not speculate on the future of the company after the billionaire snapped up 18 per cent of the broadcaster in a share raid.

At today's results briefing, the Ten Network announced a rebound in advertising revenue had helped it swing from loss to a profit of $150 million for the 2010 financial year.

Even though Network Ten's annual profit result was meant to be the subject of the briefing, many questions were about the intentions of Mr Packer.

Mr Falloon tried to bat them off.

"We are happy to see someone and someone of the ilk of James Packer take a positive investment in this company," he said.

"He obviously understands the strategy. As yet we haven't sat down and had a discussion with James Packer, so I'm not going to comment on speculation.

"When we have done that, and when we've got something that can be categoric to say, we will.

"But he's made, as anyone could have, an investment in our company and that's encouraging for the company.

"And when we have discussed all the many issues that are being flagged, we will have something to say.

"But I'm not going to comment on yours or other people's speculations ahead of that."

http://www.abc.net.au/news/stories/2010/10/21/3044955.htm?section=justin

The Ten Network says its executive chairman, Nick Falloon, has agreed to stand down in order to resolve issues between the company and James Packer and Lachlan Murdoch.

In an announcement to the stock exchange, Ten says its discussions with both major investors over requests for additional board seats have not yet been resolved.

Mr Falloon will depart in December after the company's annual general meeting.

The Ten Network has offered Mr Packer and Mr Murdoch seats on its board, giving the two media moguls one-fifth of what would become a 10-member board - roughly equivalent to the 18 per cent shareholding that Mr Packer's Consolidated Press Holdings has taken in the broadcaster.

Mr Falloon left Kerry Packer's Publishing and Broadcasting Limited in 2001 after a falling out and it is understood James Packer has been pushing for him to stand down from Ten.

Ten is spending $20 million a year to expand its news and current affairs line-up in the hope of higher ratings.

But Mr Packer cut back spending on news at the Nine Network and there is speculation he may want to do the same at Ten.

http://www.abc.net.au/news/stories/2010/11/04/3057521.htm

Gus: it looks as if James Packer does not like Mr Falloon who's been doing a reasonably good job at Channel Ten in a difficult time for media — not difficult to broadcast whatever, but to make money out of it...

Australia's richest woman, Gina Rinehart, has expanded her business portfolio after taking a 10 per cent stake in the Ten Network.

The announcement was made today in a letter to the Australian Securities Exchange.

It comes after James Packer last month bought an 18 per cent stake in the broadcaster.

Shares in Ten Network Holdings jumped four cents to $1.65 this afternoon.

Mark McDonnell, a media analyst at BBY, says it is unusual Ms Rinehart has expanded her business portfolio to the Ten Network.

He says it is a strategic investment move with the changes to sporting rights on free-to-air and pay television stations forthcoming.

"I think [it's] quite important strategic positioning around the upcoming anti-siphoning review and the change in the relationship between the free-to-air and pay television," he said.

Mr McDonnell says the move shows there is quite a lot of interest in the TV station.

"It's a surprising, but very interesting move," he said.

http://www.abc.net.au/news/stories/2010/11/22/3073427.htm?section=justin

Mr Bolt’s piece is a paean to his Rinehart cowgirl and the power she so justly wields, or should be able to wield. He darkly hints that he has information not available to we who are still the audience (love it when journalists refuse to disseminate information) and then goes on to explain just how necessary it is for the rich and powerful to control the media:

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Why would Lang Hancock’s daughter, who became a billionaire by vastly expanding the iron ore business her father founded, want to own a share of a TV station, too?

It is because the shares are cheap? Because there’s big money in Simpsons re-runs? Because Channel 10 is going places now that James Packer has an 18 per cent share, to be split with friend Lachlan Murdoch?

If that were all, I wouldn’t bore you. But my strong and not entirely uninformed hunch is that much bigger issues are at play involving our country’s future and threats to the wealth we’ve taken for granted.

I can’t disclose just why I suspect that, but read for yourself a clue in the terse statement put out by Rinehart’s Hancock Prospecting on Monday: “Our company group is interested in making an investment towards the media business given its importance to the nation’s future and has selected Channel 10 for this investment.”

Rinehart is on a mission. Channel 10 is just the vehicle.

In fact, I believe this deal may be the start of an attempted shakeup of one of the three big free-to-air TV stations, by a woman rightly alarmed that people in the eastern states have got complacent, living fatly off industries they despise and in their ignorance now threaten.

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Yes, how dare we live off poor Gina’s hard work.  Because that is what we are all obviously (and fatly) doing. It seems only fit and proper that she should be able to defend herself by buying a TV station.

Anyway, the point here is not to perform an exercise in responding to Mr Bolt’s hysterics and straw men.

The point is merely to suggest that a lot of the contemporary discussion about new media and the way it is developing glosses over the fact that for all its problems, for all the change it is undergoing, media is still seen by powerful people as the best way they have in a democracy to bring to bear their influence upon, not just we the audience, but the governments we elect.

http://www.abc.net.au/unleashed/41510.html