UK Culture Secretary Jeremy Hunt To Be Ousted?
UPDATE: David Cameron has named Jeremy Hunt to the post of Health Secretary. Hunt told the BBC, “It’s a huge task. It’s the biggest privilege of my life. I’m incredibly honored.”
PREVIOUS: Jeremy Hunt may be on his way out as part of Prime Minister David Cameron’s cabinet reshuffle. Hunt fell under scrutiny a few months ago for what some considered a too-cozy relationship with the office of James Murdoch during News Corp.’s bid to acquire the whole of BSkyB. Hunt, whose official title is Secretary for Culture, Media and Sport, expects to lose his post, sources tell The Guardian, although he recently oversaw what was considered a successful London Olympic Games. According to The Guardian, speculation is that he will make a lateral move to the Department for International Development. One name that’s popped up as a possible replacement should Hunt change jobs is Communications Minister Ed Vaizey.
Sky Revamps Acquisitions Team
Sky has promoted controller of acquisitions for Sky Entertainment, Sarah Wright, to controller of acquisitions for Sky, adding acquisitions for Sky Movies to her responsibilities. She replaces Simon Rexworthy, who will join Sky’s Strategy team from October. Wright was involved in the launch of Sky Atlantic and oversaw the acquisitions strategy for the re-launches of Sky Living and Sky Arts. Further, Holly Comiskey and Lucy Criddle have both been promoted to the roles of senior acquisitions manager for movies and entertainment, respectively. Comiskey will oversee managing movie acquisitions on a day-to-day basis. Criddle will manage the entertainment acquisitions across Sky’s portfolio of channels.
Lachlan Murdoch Takes Full Ownership Of DMG Radio Australia
Lachlan Murdoch has taken a bath on his 9% stake in Australia’s Network Ten, but his radio play seems to be paying off. In 2009, via his investment firm Illyria, he acquired 50% of broadcaster DMG Radio Australia from British publisher Daily Mail and General Trust for a knockdown price reported to be $A110M ($113.5M). Now he’s buying the other 50% for about $120M, which includes half of this year’s dividend earned by the broadcaster. Murdoch said DMG’s pre-tax earnings have doubled since he bought in and the internal rate of return on his initial investment is more than 60%. He is chairman of DMG, whose flagships are the Nova network, the market leader in the 18-39 demographic, and the recently rebadged SmoothFM.
– Don Groves
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