Kerry Packer And Fairfax (ACA 1991)

while there are three bits being considered for the John Fairfax group the odds-on favorite would appear to be terrain but the Kerry Packer Conrad black offer has also aroused the greatest opposition particularly from Fairfax journalists joining us now The Sydney Morning Herald's communications writer Tom Burton the Melbourne Agers economics editor Ken Davidson and Alan Kennedy from the Friends of Fairfax gentlemen welcome Tom would you like vocal about it yes mr. packer you've had a pretty impressive record in TV and magazines you put a lot of new ideas a lot of innovation lots of new ideas would you like to bring to Fairfax I mean I've just got through telling him that I'm not going to be in the positions to bring anything to Fairfax beyond the equity of 15% I'm not going to be on the board of Fairfax and I'm not going to run 50 must personally you've got a lot of ideas you've worked in media for a long time what do you think of the Fairfax newspapers well as I say I'm not going to have an effect on them now if you want to ask me about what I feel about newspapers what I how I run my business I'm quite happy to answer those questions well that's the question I was asking it as the person is going to be a major shareholder in the company what are you used about v I don't have any views about Fairfax as a major shareholder because I'm not a major shell as a person is been in the media for many years what what are your views about the Fairfax papers I think there are great traditions I don't think they are necessarily being will enough served at this moment in time by some of the things that are happening there but I think they have a great tradition of the great reputation and I think they will go on as long as they're properly nurtured and looked after to even even more greatness how could we make it better well we could obey the ajo code of ethics to start with couldn't we you think it's been breached I'm sure it's been breached have you got examples of that only well why don't you read just the first section of it yeah really often what are you referring to why don't you read that out so everybody can make their answers here's the aj outside the difference yeah I've read it often why don't you read it to the public cuz I've never heard just the first say just the first well mr. mr. pecker what's the point you're making there my point is that the way this has been handled the big lie and as notice we're not going to get it read the big lie which is being put forward by the Fairfax organization that I am going to control it is in direct contravention with the aja code of ethics I am NOT going to control Fairfax's please tell me how I am if you believe it tell me how where's the big live input can you put some examples in Fairfax copy and Fairfax cover this issue I understand picture in the paper the other day with posters of the age up right of you the Friends of Fairfax got to use posters of the age I mean this is an official Journal of John Fairfax don't really follow the point where I asked for examples where paper there is a paper there is a there is a picture in yesterday's paper or today's paper where you are all having a meeting putting forward a point of view which is completely and absolutely dishonest the in that painting in that picture there are posters of John Fairfax and so now will you read the thing could I ask you can i you've all asked me so why don't you read it so program more than happy to write why don't you read it out so the public you establish what what point we're making mr. pecker you are you call it the big lie you believe the effects Press is lying about your interest in the Turing bed I believe Fairfax press is lie when it tries to present which it constantly does the bit of Tarang as being my bed and that I will control it all right now let's let's move okay Allen element who is the control of Turing would you read that out which you're very reluctant to do officially already have you know all members Australian journalist Association I pledge to stand by their fellow members in observing and enforcing the AJ code of eggs 0.1 what goes on and on oh just point one it's got one lever sided we shall be scriptlets in reporting than years perhaps I could ask you to have a pinata when she aged continued the explanation of what it shows and going on and go on so can I ask you back in 1988 with one thing at a time why don't you read out what's your suppose is our report and interpret the news with scrupulous honesty by striving to disguise all central fax Aalesund by not suppressing relevant and available facts or distorting by wrong or improper infested by distorting now you are deliberately distorting to rangs representation let's have some evidence mr. fagin have any amount of it you can look at every paper everybody out there looking at this television program knows full well that you as a group believe the two rang and I have got a run to ring a lot of days we've got you know you're saying Malcolm Fraser at Gough Whitlam former Prime Minister's deputy prime ministers are distorting effects - I mean we've got a property public rallies in Sydney and Melbourne tomorrow we deliver 2,000 letters to the ANZ Bank saying people will close their account so if you can't using the John using the age and the Sydney Morning Herald are they deceive you can't if you can't using those get 2,000 letters to just give to the bank you're not trying are they distorting other use I'm Malcolm Fraser and got mountains razor and Gough Whitlam I don't really feel that X politicians have a lot of say in this were they I'm changing the rules when they were there or are they just being smart after the event well aren't they readers and the papers they will be really papers and they may well be on the under the impression that I will control Tareq but if so it'll because of the reporting that you have done mr. painter could could I ask you so you won't control Turing who will the public the public will control to rank the public will control Turing how does the general public the general public how will they control Turing that around 65% of the shares so and they will they will certainly own the majority of shares but will they have control over they can vote in or out anyone they like they own the majority of the shares that's how directors are appointed it's surely you know that mr. Peck isn't it true that you and Conrad Blake got together last year talked about this issue I'm taking this from Trevor Kennedy's evidence from the print tribunal it's three versions of this story bus I see you mr. Kennedy's got it right one biggest image got it right well he was your chief executive he's appointed it your chief executive to this organisation till he resigned last week it was me saying he was you're speaking under a saying is lying was making anything I'm just saying why do you assume it I asked you a question and I'll tell you the answer well his claim is that you met last year you started discussing with mr. black our the bit you've been discussing with it for the last eight or nine months you've approached various financial institutions this is clearly a big which has been put together by you sir you and mr. black but nobody's queried that so you accept that you are the prime movers of the bid is like what you're saying nobody's ever queried that so you accept the proposition that you are the prime mover I accept the fact that I was involved in helping get the bid going but after the bid goes in and surely you must understand the difference once this company is floated which it will be within six months of the bid being accepted it will be owned by the Australian public Conrad black will have 20% I'll have 15 and who will appoint the editors the pub presumably the directors and I'm not eligible to be a director before you float you've got a name your board venture you've got a management in place well he's going to appoint the directors of the for the public float Wells's element Cowan is already the Arab regime you'll have something to say about it so Lawrence Street both of these people unsatisfactory by your standards I suppose very pointed by they are a directorship of the terrain no idea who appointed them to the board of Turing's I don't have years Conrad black so Conrad Black is the controller of the company at this moment at this moment but when it goes public he won't be then at this moment in time this is a company that owns nothing controlling this company is completely meaningless the Conrad black discussed with her I hate to do this but commercial considerations require that we take a break here but we'll be back and the debate will continue after this and welcome back to the debate where mr. packer is facing his fear facts media critics now mr. packer is clearly not conceding that he's going to have any influence beyond a 14.9% shareholding what is it that you all fear about mr. packer there's a whole range of things about Turing but let let's come back to the point that mr. packer is merely a passive investor if that's so why is mr. Baran who is an employee of yours been visiting mr. Beasley the Minister for Communications who has carriage of responsibility for cross many ownership and why is he being in secret discussions with the Australian Broadcasting tribunal has he been in those discussions on your behalf is he an employee of terrain is he an employee of yours or is he operating on his own behalf he's an employee of mine so as a passive investor you're before you deliberately want to misinterpret this thing again I have said to you I would have thought clearly even so you could understand it that at this stage while touring is being put together and before it owns John Fairfax I have been one of the people involved in the structuring of touring after it owns John Fairfax and Sons I will be a passive investor of 14.5 14.9% and have no director now I can't tell you that more clearly and this is the very thing that I keep on complaining about you don't want to listen to the facts because it doesn't suit your case give a record of taking passive investments it's the kid mr. ban do I have a record of TV no I don't have a record of taking passive investments but I don't have an opportunity often to buy under John Fairfax in some tither this is a company or company that runs a business that I think to this program to the the staff of this program a year ago you said didn't have a future thank you you made a big point of it and was recorded what you said that newspapers didn't have a future I think the point you're making was about classifieds and here you are twelve months later I basically said the newspapers don't have a future well that was the point you're making I'll check with the staff just beforehand that was the point with my why didn't you check with me well you here masking and I'm saying to you I don't think I've ever said that newspapers don't have a future now I'm saying to you the future may not be clear because I don't know what's going to happen but the idea that newspapers are going to cease in one form or another is not my point of view my point of view is that maybe will be delivered on a printer over a television set but I don't think they're going to cease to exist is to pay you economy back have often been or have been described as of two balls in one paddock that can't go he described us as that makes what I think as well a commentator other intellectual genius well you might like what he said but how durable is the partnership I don't think very durable I would have thought that that it's become apparent hasn't it that we are prepared to stand up and put this bid together after that Conrad black will run the thing not me I'm very happy for Conrad black to run it I think Conrad black is a very capable newspaper what if it doesn't work out then I'll sell my shares it's a listed company do you have any sort of agreement as to how I don't know the agreements at all none why did what did you look overseas for a partner why not look in Australia if you were just interested in suggesting I don't know I'm asking you well I'm telling you who is there in Australia I should have brought it all there's a whole range of who's who is the person who has institution what do institutions know about running a newspaper for God's sake Conrad black is used to running a quality newspaper are you really suggesting there are better partners here to do that than here if so name one if not withdraw the question well I'm not going to withdraw the question you're saying there is nobody in Australia media billionaire Fairfax Group who is better than Conrad black at running with the Fairfax group well since you asked me I would say the existing management of the Fairfax group well they're the people who have allowed you to go through and distort the truth in the way that you have still have improved this point it made us please don't prove it everybody out there knows it everybody out there has been reading nothing but how I'm going to take over Fairfax's for the last three weeks I don't have to prove it at all he's interpreting the truth to them in these stories appear in News Limited as well they coming out of they distorting the truth to I would I would imagine if that's what they're doing yes in the truth of the matter is usually but it don't want Conrad back as a partner over so this is a massive conspiracy against Kerry Packer is it bike channel 7 channel 10 news limited Fairfax somehow all these journalists have combined together in a darkroom to make up this video that's yours that's your theory I don't think it makes my points we really hiking no no the point I'm making is very simple you've had a holiday down at Fairfax is for two years you haven't had a boss you haven't had anybody has made you responsible for anything and now all of a sudden you're saying there's going to be some people come in here and run this place like a newspaper we want of the circulation of the newspapers all the newspapers in the group have gone up and the companies never been is profitable it's pretty good holiday I mean of crime he's never been as profitable what money did it make last year as a matter of interest I thought and last time well it loses money because of the debt that Warwick's over the operating profit including LME of life is the debt you've got there your company is not profitable it's in receivership surely as a journalist you know John's done I know the difference I know these are two of the most profitable newspapers in the world even more Dhaka said it Conrad Black has said it they've said that they're two great newspapers no they've talked profitable newspapers some people claim though five you know any time that you've got to go and pay 1.2 billion dollars to get something out of the black it's not that out of the red is not that profitable now I don't mind what everybody says and I'm answering your question your question is is there a conspiracy by the age and by the Sydney Morning Herald undoubted no no I said years limited use limited on what Conrad black there is apartment they think they're party to it as well I don't think they're interested in having strong competition I think that much prefer to see you going on the way you are Gough Whitlam Malcolm Fraser there apocalypta man Malcolm Fraser have both been to state dismissed by the Australian public for their past in perfect performances anyway so they're not a total environment they're of course they're entitled in opinion but so am I entitled to an opinion and I'm entitled to the truth and you as a group have not represented the truth do you agree that you do interfere in your publications no I don't why do mr. Kennedy say that I can write no why don't you ask all the editors the plenty of them about why don't you find out how many I have in most plenty of after just read you this is mr. Kennedy under oath of the print media inquiry from time to time things went into the bulletin that I probably would have preferred did not go in he was asked do you mean that they went in it his request that your request yes he wanted to get them in and so they were put into the bulletin I got useful there's lots of things that go into the bulletin but I don't want to go in there to that's at the point I'm saying do you interfere with your publications fine let me be perfectly clear with you with my publications I have the right to find out and see what is going to go with insulin now I've read said that the wrong way in truth I look at them all in retrospect I don't look at anything going into the publication but I will talk to people after the event and say why have you done this why have you done wires have been handled this way and the reason I do it is because I want people to be able to test what they can do specifically could I ask you did you know about the mrs. Hewson interview before it went to air did I know about the mrs. Hughes's story and the woman's weekly the answer is no in a given the the 6-pound out about the Hewson interview two days three days Monday or Tuesday whatever it will day of that I just warn you that we are unfortunately really running out of time just a couple of closing questions please mr. peggotty agree that you come to this sort of bed with closed hands that you've had a record of avoiding regulation no I do not why did the broadcasting tribunal say in June that your scheme is to youi was deliberately Agron breach of the ownership limits well you know let's let's start let's be very quick about that I'm the person who sold to you I'm the person who got rid of to you it's at here in this company for four years he legally held and nobody did anything I'm the one who got rid of it I didn't make up the scheme Alan Alan and Hemsley are the people responsible for saying this is the way to handle this until you can sell your always I'm sorry but I really am going to have to interrupt you we really are out of time I do thank you for coming in we do think the Friends of Fairfax spokesman Alan Kennedy The Sydney Morning Herald Tom burden and Kendall Millburn age we will be back after the break

Channel: Malcolm Farnsworth

Views: 108,718

Rating: 4.7994428 out of 5

Keywords: Kerry Packer, Fairfax, Tom Burton, Kenneth Davidson, Alan Kennedy, Jana Wendt, ACA

Id: ue0JdaCTsy8

Length: 17min 20sec (1040 seconds)

Published: Fri Feb 08 2013

Reddit Comments

[u/wingwong82]

The good ol days when there were journalists doing investigative reporting. Not a shocking "save $2 on groceries" story to be watched. Nor the "our expert cleaning panel tells you that bleach can clean clothes" breaking stories!!

[u/[deleted]]

So I watched, even tho I thought maybe not a good idea considering Packers ownership of the channel. Didn't get passed the first sentence with the "so called" investigative journalist pissing in Packer's pocket.