The Media Weekly: We’ll always be together
It’s another rundown tinged with sadness this week, as the industry mourns the loss of British-Australian singer and actress, Olivia Newton-John. But there was also good news from the US yesterday, as the FBI executed a search warrant on Donald Trump’s Florida residence. Behind the consumer headlines, there are also BIG time business stories for Axios and News Corp this week… so join us on our latest whistlestop tour around Mediaville…
“I love you so much. We will see you down the road and we will all be together again.”
Those were the poignant words left for Olivia Newton-John by Grease co-star, John Travolta, on Instagram yesterday. The 73r old performer had been battling illness for many years, and passed away peacefully at her home in California, surrounded by family and friends.
In addition to her work on-screen, the singer sold 100m+ records globally, and after her own cancer diagnosis in 1992, also became a prominent campaigner for humanitarian and health issues. Taking to Twitter, Kylie Minogue expressed what an impact the star had had on her own life and career.
“Finally, Donald Trump’s misdeeds are catching up with him…”
… writes Richard Wolffe in The Guardian today. The former President’s home was searched by the FBI yesterday, as part of an investigation into the discovery of boxes full of classified documents that Trump is believed to have taken with him from the White House when he left. It’s the latest in a series of investigations into the ‘fake news’ President’s time in office, which recently saw his behaviour during the Capitol riots of January 6th 2021 laid bare.
And it’s another example of growing success in the wider battle against misinformation, which played such a prominent part in ushering in both Trump and Brexit in, in 2016. Just how far the former President himself now slides remains to be seen, but the mainstream dialogue appears to be shifting back in the direction of truth, and against fake news and ‘alternative facts’.
Cox snaffles up Axios for $525mn
Cox Enterprises has purchased Axios for a reported US$525m. The digital media start-up, founded in 2016, specialises in business, politics, and current affairs, and it’s a highly trusted publication that we often cite here on the FIPP website with regards to media tech news.
“We have found our kindred spirit for creating a great, trusted, consequential media company that can outlast us all,” said Axios CEO Jim VandeHei. “Our shared ambitions should be clear: to spread clinical, nonpartisan, trusted journalism to as many cities and as many topics as fast as possible.”
News Corp reports record results
News Corp recorded its fourth quarter and full fiscal 2022 results yesterday, with record setting numbers. Fiscal 2022 full year revenues and net income were records at $10.39 billion and $760 million, respectively. Revenues grew 11% compared to $9.36 billion in the prior year and net income increased 95% compared to $389 million in the prior year.
“Our provenance and principles endure at News Corporation,” said Chief Executive Robert Thomson, “but the business has been fundamentally transformed – we are vastly more profitable and have created a potent platform for even greater growth, to the benefit of all our investors and other stakeholders.”
For those looking to get back onto the physical networking scene this year, we bring you news of a brand new event from our partners at Di5rupt, hosts of the FIPP World Media Congress…
Taking place in October in Berlin, Media Makers Meet (Mx3) is an innovative new event dedicated to B2B and Special Interest media verticals. Places are limited to just 100 senior-level attendees and by invitation-only, but FIPP members can benefit from a 20% discount on attendance, and you can find out more here.
[Main image: Shutterstock.com/Kobby Dagan]