AUSTRALIA: Jobs “jump” like kangaroos

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Southern Cross Austereo owns 88 radio stations on the Australian continent
Southern Cross Austereo owns 88 radio stations on the Australian continent
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The economic crisis generated by the pandemic is also making itself felt in Australia: Southern Cross Austereo restructures and cuts 38 jobs. The company’s revenues fell by 18.2%. Details in the article on the ABC website.

News Corp, the conglomerate owned by Rupert Murdock, has reacted to operating losses by restructuring its own premises
News Corp, the conglomerate owned by Rupert Murdock, has reacted to operating losses by restructuring its daily newspapers.
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The move comes on top of others already announced: News Corp announced in May that 100 regional and local newspapers would close the print edition and continue as digital edition, and thirteen newspapers will merge with others.

Reduction of programmes, leave for big names and staff cutbacks: the recipe of Ten
Reduction of programmes, leave for big names and staff cutbacks: the recipe of Ten
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The Ten television network will produce the news in its Sydney and Melbourne offices, with a number of prestigious news signatures. Weather forecasts will no longer be made on a regional basis but will be unified into a single national bulletin. As far as jobs are concerned, the extent of the cuts has not yet been announced because negotiations with staff are ongoing.

FRANCE: Large networks cut costs and staff

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In order to compensate for lower advertising revenues caused by the pandemic, the large networks are making savings like this: Altice has closed down the TV channel RMC Sport and laid off a third of its personnel, RTL has dismissed well known radio hosts and television presenters and NRJ has sold a stake to increase liquidity

The TV channel RMC Sport News, at crisis level due to cancellations of sports events, was shut down on June 2nd, 2020
The TV channel RMC Sport News, at crisis level due to cancellations of sports events, was shut down on June 2nd, 2020
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In June 2020 the French subsidiary of the Altice group (a multinational with headquarters in Holland), presented a plan to the unions ‘in order to save the media group’. This involved all the divisions in the NextRadioTV group, including channels BFM TV and RMC. The goal is to streamline both organisation and programming by axing between 330 and 380 full-time staffers in addition to 200 freelancers. According to the union representing the employees at Altice CGT (Confederation generale du travail) ‘This drastic cut in personnel is incomprehensible for a profitable group in constant growth, which had a turnover of € 120 million in 2019, a 300% increase in 5 years’.

Unions jump into action

This press release, giving information on the progress of their negotiations, appeared on June 29th, 2020, on the Facebook page of the union representing Altice staff
This press release, giving information on the progress of their negotiations, appeared on June 29th, 2020, on the Facebook page of the union representing Altice staff
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Following a number of strikes and union action, the company softened its stance on June 29th, 2020. It undertook to ‘offer voluntary redundancies to a maximum of 330 staffers and not proceed with layoffs until November 31st, 2021’. It will also try ‘to find alternative employment for staffers who cannot be placed in other positions inside the organisation and find a solution for freelancers’.

Capital gain of € 300 million in 2018

On June 8th, 2020, Capital printed this article which explains the real estate operation that led to a sizeable capital gain on the sale of the premises of some of the group's headquarters
On June 8th, 2020, Capital printed this article which explains the real estate operation that led to a sizeable capital gain on the sale of the premises of some of the group’s headquarters
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Up to a short time ago the group was flourishing to the point that the owner, Patrick Drahi, and Alan Weill, the Chief Executive Officer of NextRadioTV, made €300 million gross from the capital gain on the sale of some buildings. These four towers, located in the 15th arrondissement in Paris, are the headquarters of SFR (Societe francaise du radiotelephone, the second largest mobile communications company), BFM TV and the daily newspaper Liberation. The 85,800 square metres of floorspace accommodates 7,000 employees. Apparently in 2018 Drahi and Weill bought the buildings in their own names to then resell them to the group at a higher price.

RTL dismiss well known radio hosts and television presenters

The RTL Group with headquarters in Luxembourg is one of the leading companies in the field of broadcasting and digital media with interests in 68 television stations, 8 streaming platforms, 30 radio stations and a production company in many countries worldwide
The RTL Group with headquarters in Luxembourg is one of the leading companies in the field of broadcasting and digital media with interests in 68 television stations, 8 streaming platforms, 30 radio stations and a production company in many countries worldwide
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The RTL group’s accounts for the first quarter this year closed with a fall of 3.14%. Two months later, the French headquarters announced the dismissals of a number of well known television presenters and radio hosts, the departure of the head of the political service and a cut in the budget of the correspondent in the United States. Details can be found on Jean Marc Morandini’s website

NRJ sells a stake to increase liquidity

The NRJ Group has four national radio stations (NRJ, Cherie FM, Nostalgie and Rire & Chansons), two free national TV channels (NRJ 12 and Cherie 25), a pay TV channel (NRJ HITS) and, with their subsidiary Towercast, is the second largest operator of infrastructure and transmission towers
The NRJ Group has four national radio stations (NRJ, Cherie FM, Nostalgie and Rire & Chansons), two free national TV channels (NRJ 12 and Cherie 25), a pay TV channel (NRJ HITS) and, with their subsidiary Towercast, is the second largest operator of infrastructure and transmission towers
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Despite its leading position in the French market, NRJ is also feeling the pinch. On June 24th, 2020, NRJ sold a 5% stake in Euro-Information Telecom for €50 million. The company stated that the sale proceedswill be used for the needs of the group’s business‘. See details here