Consolidated Media Holdings has announced the receipt of an indicative acquisition proposal from companies controlled by James Packer and Lachlan Murdoch. Stephen Mayne at his excellent Mayne Report has a perspective worth reading. The question for newsagents has to be: what’s the likely impact?
While it’s a challenge to predict the likely impact for newsagents, what I do know is that the bigger the suppliers the less connected they are with the newsagency channel. Their focus is on sales and they see these coming from a range of retailers. Decades ago, when newsagents were the go to outlet for newspapers and magazines, we were more interesting to publishers and distributors. Now, with supermarkets, petrol, convenience and all manner of other outlets in the mix, our relevance is less.
Of concern flowing from any possible announcement is whether there are implications beyond Consolidated Media itself.
Like all newsagents, I await the Consolidated Media announcement with bated breath.