Wk 10 Media article

The media liftout from the Australian
Date
October 13 ,2008

Item selected for comment
"Ominous portents as media stocks plunge", by Nick Tabakoff

Quick comment
This article is addressing the recent stock market crisis and how Australia's major media stocks have more than halved since the last Novemeber.Tabakoff also speculates his opinion on the overall financial crisis and states that "most economists still expect Australia to avoid a recession". However he also revelas that 300,000 jobs could potentially be lost as a result of the less than 1 percent predicted growth fromthe National Australia Bank. Furthermore, the article highlights that there are doubts to whether advertising can be sustained due to the plummeting media share prices. Fairfax is also mentined as a compmay who has already implemented some strategies to help assis with financial issues. It is also an alarmaing fact that channel 7 has dropped in value and is now worth less than $1.2 billion.

Concepts from my course work that inform my perspective on this item

These financial issues associated with major media companies highlight that media is an everchaning and unpredictable industry. Yet, there is still so much opportunity for the media to rise above crisis again and overcome this financial crisis. This is one of the skills i hope to develop more on by the time i have graduated from this course.

Showing off my expertise/wider reading/ability to match up issues, theories and concepts with a longer comment, hyperlinks and references
More on the financial crisis and how our Australian Prime Minister is planning ahead for it can be viewed on the following link-
http://www.brisbanetimes.com.au/news/business/rudd-seeks-financial-overhaul/2008/09/26/1222217461550.html
Other blogging communities i am associated with:
I have just signed up with Twitter in order to become more familiar with professional blogging. I am still new to using the facilitites so I am a bit limitted with using the site, however my expirience so far has been succesful and it has been very interesting to view other people's blog entries- especially the blogging item titled "Quiggley- How Twitter is shaping the news".
http://blog.twitter.com/2008_10_01_archive.html

Longer comment from media liftout
The article titled "Ten Network takes prudent amid advertising slowdown" , also from the meida liftout, is related to the previous article as it also shows how the media has been strongly affected financially with a particular focus on channel ten due to their recent deterioration in the advertising market in the fourth quarter. Additionally, there is evident to support that the company has significanlty lost value aswell and declined 10.2 per cent to $215 million.