ABC terminates commercial contract with The New Daily

andrew-bragg/super/ABC/

22 March 2021
| By Jassmyn |
image
image image
expand image

The ABC has ceased its commercial agreements with industry superannuation fund backed The New Daily.

In an announcement, Liberal Senator for New South Wales Andrew Bragg said he was “very pleased” the arrangement had been terminated and that it had been a “reputational nightmare” for the ABC and “never should have been signed”.

“The New Daily is a propaganda arm of big super, financed by workers’ superannuation guarantee contributions. This sort of largesse will be illegal if our proposed Your Future Your Super bill passes the Senate,” he said.

“Why anyone at the ABC thought it was a good idea to get into business with superannuation lobbyists is beyond reason. Credit where credit is due and I thank the ABC for ending this dreadful deal.

“Had it not been terminated by the ABC, I would have introduced a private Senators’ bill to amend the ABC Act to prohibit the ABC doing business with lobbyists.

“I thank the Senate for passing a motion in November 2020 which has helped bring about this outcome.”

According to the Sydney Morning Herald, industry sources said The New Daily paid the ABC under $50,000 a year for use of its articles and videos. The agreement would allow The New Daily to access breaking news coverage from around the country and the News in 90 Seconds video content.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

3 months 1 week ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

4 months ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

4 months 1 week ago

AMP has agreed in principle to settle an advice and insurance class action that commenced in 2020 related to historic commission payment activity. ...

5 days 13 hours ago

Advice firms are increasing their base salaries by as much as $50k to attract talent, particularly seeking advisers with a portable book of clients, but equity offerings ...

3 weeks 5 days ago

ASIC has released the results of the latest financial adviser exam, held in November 2025....

1 week 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
moneymanagement logo