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  • Foreign Exchange: Reflections on the Grundy Buy-out

    Author(s)
    Moran, Albert
    Griffith University Author(s)
    Moran, Albert J.
    Year published
    1997
    Metadata
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    Abstract
    The 1995 sale of Grundy Worldwide co the UK-based Pearson group raises some interesting questions around broadcast television both in Australia and elsewhere. Until the last decade, Australian television production companies were mostly immune to takeovers and buy-outs. Local program packagers were proprietary companies, invariably under-capitalised and owning little in the way of capital assets. The pattern for these companies was not sale or takeover - more commonly the fate of television stations and networks - but rather a cessation of operations when they could no longer sell new programs. One important exception to ...
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    The 1995 sale of Grundy Worldwide co the UK-based Pearson group raises some interesting questions around broadcast television both in Australia and elsewhere. Until the last decade, Australian television production companies were mostly immune to takeovers and buy-outs. Local program packagers were proprietary companies, invariably under-capitalised and owning little in the way of capital assets. The pattern for these companies was not sale or takeover - more commonly the fate of television stations and networks - but rather a cessation of operations when they could no longer sell new programs. One important exception to this rule was Crawford Productions. Between 1985 and 1989 Crawford Productions changed hands three times and none of the Crawford family are now associated with the company. At the time of the second sale of the company, to Ariadne Developments in 1987, there was a suggestion that Ariadne intended to open a theme park on the Gold Coast that would feature various spin-offs from successful Crawford television series. This project gives a clue to some of the assets that changed hands in the Pearson buy-out.
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    Journal Title
    Media International Australia Incorporating Culture and Policy
    Volume
    83
    DOI
    https://doi.org/10.1177/1329878X9708300119
    Subject
    Studies in Human Society
    Studies in Creative Arts and Writing
    Language, Communication and Culture
    Publication URI
    http://hdl.handle.net/10072/121276
    Collection
    • Journal articles

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