Australian business media

Australian business media is the world’s dumbest and one of the most corrupt. It exists in a frozen duopolostic structure between Fairfax Media and News Corporation. These two focus one another rather than innovation or service delivery, poaching each other’s staff, copying businesses and generally overpaying for any assets that pop up to threaten the cosy relationship.

Business coverage in Australia is much more akin to a “boys club” of back-slapping private school alumni than it is any investigative or analytical force. It pretends to endorse private markets as a philosophy but in actuality largely exists to defend vested interests. Both halves of the duopoly are addicted to bank and real estate advertising, with Fairfax especially prepared to sell out its editorial in pursuit of higher house prices (and more ads). It’s real estate classifieds business, Domain, has slowly but surely turned its business news coverage from reporting and investigation to press-release recycling and property price cheer-leading.

MacroBusiness covers these foibles daily.

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Australia dives 14 places in World Press Freedom Index

Following Australia’s dive down Transparency International’s Corruption Perceptions Index over the Coalition’s term: Australia has also plunged 14 places in one year in the World Press Freedom Index, from 25th place out of 180 to 39th place: Press freedom is fragile in this island-continent of 26 million people, where ultra-concentration of media ownership, combined with growing

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Murdoch gunning for early Morrison exit?

Wonders will never cease as right-wing darling Janet Albrechtsen condemns Scott Morrison today: Sorry, PM, but you’re just not up to the job The Morrison government’s biggest failures are twofold. First, it hasn’t understood what good governments do to nourish a democracy, defending basic liberal principles, not only when those values are popular but when they

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Foxtel’s streaming pivot a huge success

Two years ago, Foxtel’s future was looking precarious as its outdated ‘set top box’ business model rapidly lost market share to global streaming services like Netflix, Disney and Amazon. Since then, Foxtel has made great strides in securing its long-term future. First by significantly lowering its cost base after cutting around 270 permanent jobs at the

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Morrison’s Joker propaganda worthy of Goebbels

Playing the Joker card worked a treat in the left and right weekend press for the Morrison Government: This immense distraction has only one purpose, to bury the lede of the collapse of government service delivery during Morrison’s “let it rip” recession. ACOSS has summed up what is missing: The ACOSS policy recommendations are organised

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Liar feeds media grants into Costello porktrough

The Liar goes on his merry way: Some regional Australian publishers that won multimillion-dollar government grants designed to protect local journalism jobs sacked staff and closed newsrooms before the ink was dry on their grant agreements. Guardian Australia can also reveal that the government conducted a federal seat analysis of the Public Interest News Gathering

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AFR fails dismally in ‘Big Australia’ immigration defence

The AFR View has taken a shot at critics of a ‘Big Australia’ (yours truly). Below are the The AFR’s key arguments alongside my rebuttal: Critics of a “big Australia” tend to dismiss such calls to reboot the nation’s immigration program as quickly as possible as simply returning to some population Ponzi scheme that benefits

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Troll Morrison to end trolling?

Call me skeptical: On Sunday, the Morrison government issued a chest-beating media release promising new court powers to force social media giants to “unmask” anonymous trolls who make defamatory comments online. Prime Minister Scott Morrison is not so much Australia’s answer to online trolling as he is a political example of it. The identity of

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Barilaro drops FriendlyJordies legal action

It appears FriendlyJordies has beaten former Deputy Premier into submission. After his recent resignation, Barilaro has dropped his legal action: Former NSW deputy premier John Barilaro has settled a defamation case against YouTube comedian Jordan Shanks. No damages will be paid to Mr Barilaro but Mr Shanks has agreed to edit two social media videos

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Truth is dead. Long live the fakenet

Truth is dead and buried. It’s was killed by four blows to the head. The first and worst (also the best) is the internet which is the structural driver. Access to unlimited information has substituted authority, consensus and evidence with identity, fragmentation and narrative. The second and perhaps outright worst is the rise of post-modernity,

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FriendlyJordies beats NSW fascists again

Having disposed of Bruz, FriendlyJordies today chalks up another win over NSW fascists by beating the police attempt to bury the video arrest of producer Kristo Langker: NSW Police has withdrawn an application for YouTube comedian FriendlyJordies to be found in contempt of court over videos attacking the arrest of one of his producers. Magistrate

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China blinks, unloads Aussie coal

Things are bad. FT: China has started unloading a small number of Australian coal shipments despite an unofficial import ban, analysts said, in a move underscoring the intensity of the power crunch facing the world’s second-largest economy. Nick Ristic, lead dry cargo analyst at Braemar ACM Shipbroking, said a handful of Australian cargoes waiting outside

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Ignorant Crikey rewrites Australia-China history

Some very poor journalism from Bernard Keane at Crikey: In all the coverage of the AUKUS announcement and the government’s continuing criticisms of China, one question has received too little attention: why has Australia gone from the Tony Abbott Coalition hosting Xi Jinping in the Parliament in 2014 to celebrate a trade deal to now pursuing a

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Friendlyjordies hits Berejiklian fascists with “truth defence”

Friendlyjordies is back in the news in its fight against the fascistic Berejiklian government. The magnificent satirical site has launched a “truth defence” against the Berejkilian’s government’s fascistictic defamation suit and appalling misuse of NSW secret police. Friendlyjordies files truth defence in defamation case against John Barilaro https://t.co/erGusUk24H — Guardian Australia (@GuardianAus) July 8, 2021

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Crikey cancels Friendlyjordies

This week, Friendlyjordies legend, Kristo Langker, appeared in court to plead not guilty to fascistic Berejiklian Government charges that have muzzled criticism of Deputy Premier John Barilaro. Every red-blooded journalist in the country should be outraged and alarmed at this overreach by the thin-skinned Nats, trailed, as usual, by corruption allegations that accompany this bush

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Berejilklian Government’s fascistic FriendlyJordies “overreach”

The fascistic Berejilklian Government is sinking into deeper hot water over its ridiculous arrest of a FriendlyJordies employee: Nicholas Cowdery, the former NSW DPP, said the “fixated persons” legislation was not designed for arresting comedians but for lone-wolf terrorists that pose a “risk of serious violence”. “On its face this does not seem to be

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Cameron Murray for PM

I loath Q&A. It is little more than a bourgeois echo chamber of self-congratulation. What a relief it was to see economist Cameron Murray get on there and stick it to them with elegance, reason and demands for evidence. I don’t always agree with Cam but his arguments are well-reasoned, he demands evidence and he

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The Strayan Exclusive! Morrison to rebadge Asprin as COVID vaccine

Sir Fomo McSpruikerson is an expatriate billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets. Exclusive: Morrison Government to rebadge Asprin as COVID vaccine Australia’s flagging COVID vaccination plan received a welcome boost today when Health Minister Greg Hunt announced that the Department of Health would immediately move