News Corp eyes Sky News investment
News Corporation is planning to boost investment in Sky News Australia following due diligence commenced in recent days, according to The Australian. The paper is reporting that the deal could be closed within a both following negotiations. Early this year, News Corp made a $25m bid for Sky News but negotiations were ultimately unsuccessful.
Facebook sees profit lift after advertising boost
Facebook has reported net income of US$896m in its third quarter results off the back off a strong advertising revenue. Advertising revenue for the three months ending 30 September reached US$4.3 billion, a boost of 45% from the previous year on year result. While CEO Mark Zuckerberg said he was pleased with the result, the organisation aims to “serve the entire global community, not just the people who are on Facebook today”.
All Blacks add $32 million to brand value
The All Blacks win on the pitch at the Rugby World Cup has translated into a multimillion dollar brand boost for the team.
Prior to the tournament, specialist brand valuation and strategy consultancy Brand Finance estimated the team's brand to be worth US$132 million. Their third world cup win last week has pushed this up by a further $32 million. Within a decade it could reach $500 million, the company predicts.
Bryn Anderson, head of Brand Finance's sports marketing unit, said the team represent the closest thing to guaranteed success a sponsor of a major sport could hope for. However, he added that the All Blacks' conservative approach to sponsorship could hold them back from fully capitalising on their dominance.
Edelman overhauls management
Edelman's Australia CEO has left after just a year. The PR group has appointed Steven Spurr, currently COO of Edelman UK, as CEO of Australia. The PR agency has also hired Stuart Edwards as managing director of Edelman Digital and Belinda Brett as general manager, Consumer Marketing. Matthew Gain, currently COO, is also leaving the agency to join Amazon's audio book business Audible as head of operations.
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