AAP May Face More Financial Pressure

AAP May Face More Financial Pressure
SHARE
THIS



Newswire AAP may be in financial trouble once again after almost collapsing last February, as Antony Catalono of Australian Community Media (ACM) reportedly reconsiders his contract with them.

Catalano told the Sydney Morning Herald on Monday that the AAP is “doomed”, and that ACM would consider all options to “make a decision that is best for [it].”

The ACM is one of the AAP’s core customers and currently pays them for stories and pictures on topics such as sports, courts and politics.

A few weeks ago, the six month non-compete period preventing News Corp Australia from accessing AAP’s clients ended. According to the Sydney Morning Herland, though, at this stage News Corp has not pursued any of these prospective clients.

Ninety percent of the AAP’s shares were held by News Corp and Nine, who removed their backing last year. It was announced in March 2020 that the AAP would close, before it was saved in June 2020 by a consortium of philanthropists and investors.

At the time, the group said in a statement that their purchase reflected a “desire to protect media diversity in Australia through ensuring the long-term sustainability of the AAP newswire.”

Scott Morrison and Communications Ministers Paul Fletcher announced a grant of $5 million for the AAP last year. Currently, the AAP is trying to sign fresh deals with media companies, as well as asking the government for an annual payment to increase funding.

In January, the newswire appeared in front of a Senate committee hearing to ask for annual government funding. Labour and the Greens have recommended that the government create a Public Interest News Gathering Trust, which would permanently support the AAP.

Please login with linkedin to comment

AAP acm News Corp Nine

Latest News

Twitter Lifts Revenue 74% On The Back Of Advertising Boom
  • Technology

Twitter Lifts Revenue 74% On The Back Of Advertising Boom

Twitter has just experienced its fastest growth in revenue since 2014, with the social media platform benefiting from increased interest from advertisers. Revenue was up 74 per cent YoY, according to the company’s Q2 results, reaching $US1.19 billion ($1.6 billion) from $US683.4 million ($925 million) 12 months ago. The strong results came in the same […]

by B&T Magazine

B&T Magazine
Wild Turkey Whisky Campaign Stars A Smouldering Matthew McConaughey
  • Advertising
  • Campaigns

Wild Turkey Whisky Campaign Stars A Smouldering Matthew McConaughey

Wild Turkey has announced the launch of its new global creative campaign and platform, ‘Trust Your Spirit’, featuring the brand’s creative director and spokesperson, Matthew McConaughey. The global campaign and platform ‘Trust Your Spirit’ is to encourage people to be bold, unapologetically themselves, and stay true to who they are. The global tagline and ethos […]

Optus Teams Up With TikTok To Launch Sign-Language Campaign
  • Marketing
  • Technology

Optus Teams Up With TikTok To Launch Sign-Language Campaign

Telecommunications company Optus has announced it will launch the world’s first TikTok sign-language activated filter. Featuring Optus ambassador Ian Thorpe, Optus will unveil a branded effect that shows TikTok users how to say key phrases in Auslan sign language, including ‘How are you?’ and ‘It starts with Yes’, through the hashtag challenge #SignYes. Optus will […]

Heckler Appoints Charu Menon To Partner
  • Advertising
  • Media

Heckler Appoints Charu Menon To Partner

Heckler has announced the promotion of Charu Menon to Partner, Singapore, making her the first female member of the Board.

Bapcor Debuts First Campaign With AJF
  • Campaigns

Bapcor Debuts First Campaign With AJF

Asia Pacific’s leading provider of vehicle parts, accessories, equipment, service and solutions, Bapcor will launch its latest campaign, ‘The unseen parts of every Australian journey’ this weekend.

Professional microphone in radio studio
  • Advertising
  • Media

Podsight’s Benchmark Report Shows Podcast Advertising More Effective Than Other Digital Channels

Podsights has revealed new insights into the effectiveness of advertising in podcasts, tracking global and Australian podcast advertising trends. This is the first Australian report to be published since ARN partnered with Podsights to set the standard for best-in-class podcast advertising measurement. The report includes additional analysis and follows a series of Measurement Masterclasses held for […]

NGEN’s Charity Cup Raises Over 175K For UnLtd Charity Gotcha4Life
  • Campaigns

NGEN’s Charity Cup Raises Over 175K For UnLtd Charity Gotcha4Life

NGEN’s 2021 charity cup has raised over $175,000 for UnLtd charity partner Gotcha4Life. Gotcha4Life is a not-for-profit foundation raising awareness and funding to provide educational workshops and innovative programs that build mental fitness in individuals and communities. While Sydney and Brisbane completed the Charity Cup in June, before Covid restrictions hit, the final leg in […]

Biennale Of Sydney & Cicada Innovations Launch Sustainable Materials Challenge
  • Campaigns

Biennale Of Sydney & Cicada Innovations Launch Sustainable Materials Challenge

Australian tech incubator Cicada Innovations and Biennale of Sydney are launching the ‘New & Sustainable Materials Challenge,’ in an effort to create a more sustainable future. The works of chosen material-makers will be showcased to millions of Biennale audiences, exhibition partners, and exhibition makers globally. The Challenge is open to any Australian and UK startups, […]