That reflects the soft New South Wales market, but the result could have looked a lot worse if not for New Zealand.
More Quotes from Greg Fraser:
They paid a big price. It has a sniff of a panic buy. New Zealand is a small market and I can't see what they can do to grow the business.Greg Fraser
The Internet is starting to change the media landscape, making what previously looked like straight-forward acquisitions much more difficult.
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Low single-digit growth in the overall advertising market will be the bar for all media companies to try and get over.
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Australia needs a level playing field in terms of investment and innovation ... so that broadband penetration and digital penetration generally can catch up with the rest of the world.
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It's just a normal business decision they've taken. And it's not entirely surprising given the level of international competition for the bid.
Greg Fraser
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