Week 12 Media article

The media liftout from the Australian
Date
October 27 2008

Item selected for comment
"James Packer quits PBL Media board", by Michael Sainsbury

Quick comment
This article is annoucing the depature of leading media individual James Packer from the media group PBL who was in charge of Channel Nine's, magazine group ACP, the website ninemsn and internet automotive website Carsales.com.au. This decision was made as a result of the current financial crisis and Packer has found himself in a huge amount of loss. The media group itself has are approximatley "$4.2 billion indebt and the interest payments are consuming all the company's profits leading some financial analyst to value the group at zero", (Sainsbury, 2008).
Additionally, this decision to step down will result in Andrew Cummins and Ben Hawter replacing Packer's position in PBL.

Concepts from my course work that inform my perspective on this item
The article itself is significant from a pulic relations perspective as Sainsbury has made an effort to target a general audiece by using straight forward language to effectively inform people on the situation, without stimulating any alarm. Also the context of the article is relevant to the current financial crisis and shows how major companies may be affected.

Showing off my expertise/wider reading/ability to match up issues, theories and concepts with a longer comment, hyperlinks and references

For further information please refer to the original article
http://www.theaustralian.news.com.au/business/story/0,28124,24557737-7582,00.html