Monday, December 31, 2012

UK Competetion for Local Publishers

One of the UK's most powerful newspapers is to launch in Australia next year.
In January The Guardian's deputy editor Katherine Viner (left) will bring a team to Oz to work on the project.

The Guardian is teaming up with the successful not-for-profit news website Global Mail owned by philanthropist and Internet millionaire Graeme Wood. It was The Guardian that persisted with the phone hacking scandal that eventually led to the demise of Rupert Murdoch's News of The World.
  Although the newspaper publishes at a loss it is backed by an asset rich trust which exists to fund The Guardian's investigative reporting, the type that Fairfax once excelled in but which has been declining over the past 5 years as it attempts to compete with Murdoch's papers
Graeme Wood is an astute businessman who has made a fortune from Internet publishing and is quickly filling the middle and left-of-centre ground left vacant by Australia's 2 major newspaper publishers. In 2010 he made the largest ever political donation giving $1.8M to The Greens. He looks set to be the new player in town.