ERROL PARKER | Editor-at-large | Contact
NewsCorp Australia has officially become the second taxpayer-funded broadcaster in the country after the Federal Government’s latest cash injection pushed the state’s ownership of the company over 51%.
The overseas company and the Australian Broadcasting Corporation (ABC) have been operating under the same business model now for at least a decade and this latest move by the Federal Government cements NewsCorps position as a public broadcaster.
“Good news, everyone,” said Treasurer Josh Frydenberg.
“The public now own the Daily Telegraph, The Advertiser and The Herald Sun. Plus all the others. Uh, The Courier-Mail? We own that, too. Sky News and all those small-town ones. Yep, like the ABC, it’s owned by you,”
“For years now, NewsCorp has been the voice of Australia. The trusted rock in the raging sea of misinformation and fake news. This is a great day for Australia,”
“The government has given NewsCorp another multi-million dollar tax concession today and we haven’t ruled out giving them retroactive JobKeeper, too. NewsCorp and the ABC are both non-revenue-generating companies so this makes sense. Both are funded wholly by the taxpayer.”
More to come.