The XYZ Effect: Channel 10 under administration.

6

Channel 10 has been placed into voluntary administration:

http://www.news.com.au/finance/business/media/network-ten-placed-into-voluntary-administration/news-story/b5d76500e4d051dc6dd05a25e9c0c269

Excuses given for Channel 10’s financial woes include “onerous” programming contracts with CBS and 21st Century Fox, increased content competition from online streaming services, and advertising competition from Facebook and Google.

All true. What is not said is that Channel 10 is the first Australian domino to fall in what is the oncoming collapse of the fake news MSM in Australia. People simply don’t trust the politically correct, virtue-signalling Cultural Marxists chosen to lie to us on a daily basis, so they are turning elsewhere.

Thus, we have The XYZ Effect.

The XYZ, 1 : Channel 10, 0.

The ABC may not be next, given it doesn’t have to follow normal economic rules like making more money that it costs to run, but the ground beneath it is getting shakier.

It would be remiss of us to exclude the other key factor in Channel 10’s demise:

Waleed Aly is a total goon.

It’s your XYZ.

  • Channel 10 has always been the 3rd wheel, poor cousin in commercial TV.
    It’s going under…good riddance.
    I hope all the Old Media dies a swift death, with much pain.
    Despicable Fairfax is on the ropes too….excellent.
    Hopefully the Murdoch Empire will implode when puppet master Rupert, the old fart, croaks.
    He is as bad as Soros, in his own way.

    More power to XYZ !
    https://uploads.disquscdn.com/images/b01e6981d6cbe8f64b025dc334348658a12ff149ec7c8f589344e7bb33fd3fb6.jpg

    • Gregoryno6

      Ten was poised to go down the chute thirty years ago as I recall. Local tv was in a dire state and it was a dinner party topic of conversation whether we had enough good programming to keep three networks profitable.
      With the many alternatives now available it was only a matter of time before one of our free to air networks failed.
      I haven’t owned a tv for many years, and the only time I watch FTA is when I’m back in Melbourne staying with family who don’t have the other options. Nine, Seven and Ten have been treating their viewers with contempt for a long, long time.

  • Grant Summers

    Bolt left Channel 10 and landed a nice job on Sky, and now I won’t have to watch those nobs on the project any more. Priceless!

  • OneFatOzGuy

    Yes, poor little Waleed. The same guy who said “Melbourne house prices are too high” in 2016 then somehow manages to buy a $2.1 million house earlier this year. For those who can’t be bothered looking up the buying costs on a house like that, it’s about $120k in stamp duty and other fees.

    So ‘poor’ little Waleed (and his holier than thou Academic wife, who proves there’s nothing worse than a ‘born-again’) somehow managed to scrape together a $540k deposit (assuming he actually borrowed 80% of the purchase price from a bank, which he shouldn’t really do since Muslims don’t believe in paying interest).

    Now, I’m not going to suggest he and his wife can’t afford the loan (a couple would only need a combined income of about $250k to do that, which isn’t that hard for an overpaid academic and a media personality), my problem is that for a man crying poor (when the situation dictates it) to have done that, either someone’s paying him on the side (any foreign backers?) or he already had about $400k sitting in a bank account, which suggests he COULD have afforded an average Richmond house at the time, since they’re only about $1.4 million.

    • OneFatOzGuy

      I’ll have to correct my earlier statement.

      Waleed was being less than honest back in 2016 and here’s your proof:

      http://www.dailymail.co.uk/news/article-4609370/Channel-Ten-Waleed-Aly-second-mortgage-Melbourne-home.html

      So the point of the story is this: Aly and Cartland got (at least part) of the deposit for their $2.1 million Richmond home by getting a 2nd mortgage (otherwise known as an Equity loan or Line of Credit) on a house they already owned in Mitcham.

      Read that last bit again: “they ALREADY OWNED”.

      Anyone who has taken out an equity loan knows the first thing you need to be able to do that is to build equity in your home, which either happens over time (price rise) or because of things like renovations.

      Long story short, one must assume they’ve had that house long enough to build at least a bit of equity, so his statement that he and his wife “couldn’t afford to buy a house” were untrue because they ALREADY OWNED A HOUSE. Perhaps a more accurate statement would be that they “couldn’t afford to buy ANOTHER house” or “couldn’t afford to buy a house in the wealthy suburb in which they wanted to live”. But either statement wouldn’t make him appeal to the every-person that he’s just like them, when the fact is that he gets paid far more than most people, and so does his wife.

      So, for a couple of Muslims who both make a living out of pointing out how hard done by Muslims are in this country, for them to not only be making more money than the average person, buying expensive houses worth more than the average couple could afford to buy and living in suburbs that the average person couldn’t afford to live in, says more about the stupidity of the followers of these people than it does about the golden Muslim couple themselves.

      They’re really a bit like the Michael Moore of Melbourne: constantly trying to portray themselves as simple down-on-their-luck people trying to get by in a country that’s doing the wrong thing by them, only it turns out that they’ve got a far better life than 99% of the people who relate or follow them, as was found out when Michael Moore divorced his wife of 21 years and it was revealed that his net worth was estimated at $50 million before his wife presumably got a sizable portion of it.

  • Kevin Collins

    How’s it go? Oh, that’s right….”And here’s me with no champagne”. Reap what you sow.