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{{Short description|Australian financial newspaper}}
{{Short description|Australian financial newspaper}}
{{Use dmy dates|date=July 2015}}
{{Use dmy dates|date=February 2023}}
{{Use Australian English|date=July 2015}}
{{Use Australian English|date=July 2015}}
{{Infobox newspaper
{{Infobox newspaper
| name = The Australian Financial Review
| name = The Australian Financial Review
| logo = The Australian Financial Review (logo).svg
| logo = The Australian Financial Review (logo).svg
| image = Australian Financial Review - 20 October 2010.jpg
| image = Australian Financial Review - 20 October 2010.jpg
| motto = ''The Daily Habit of Successful People''
| type = [[Daily newspaper]]
| format = [[Compact (newspaper)|Compact]]
| type = [[Daily newspaper]]
| format = [[Compact (newspaper)|Compact]]
| owner = [[Nine Entertainment Co.]]
| founder = [[John Fairfax]]
| owner = [[Nine Entertainment]]
| founder = [[Fairfax Media|John Fairfax & Sons]]
| publisher = [[Nine Publishing]]
| publisher = [[Nine Entertainment#Digital & Print|Nine Publishing]]
| chiefeditor = [[Michael Stutchbury]]
| chiefeditor = [[Michael Stutchbury]]
| editor = [[Paul Bailey (editor)|Paul Bailey]]
| editor = [[Paul Bailey (editor)|Paul Bailey]]
| maneditor = Joanne Gray
| maneditor = Joanne Gray
| foundation = {{start date and age|df=yes|1951|8|16}}
| foundation = {{start date|df=yes|1951|8|16}}
| language = English
| language = English
| headquarters = [[Sydney]], [[New South Wales]]
| headquarters = [[Sydney]], [[New South Wales]]
| publishing_country = [[Australia]]
| publishing_country = [[Australia]]
| circulation = Mon–Fri: 47,200<br />Sat: 56,100<ref name=M2017 >{{Cite news|url=https://mumbrella.com.au/abcs-weekend-nationals-grow-circulation-metro-weekly-newspapers-continue-decline-427101|title=ABCs: Weekend nationals grow circulation as metro weekly newspapers continue to decline - Mumbrella|date=2017-02-17|work=Mumbrella|access-date=2017-05-25|language=en-US}}</ref>
| circulation = Mon–Fri: 47,200<br />Sat: 56,100<ref name=M2017 >{{Cite news|url=https://mumbrella.com.au/abcs-weekend-nationals-grow-circulation-metro-weekly-newspapers-continue-decline-427101|title=ABCs: Weekend nationals grow circulation as metro weekly newspapers continue to decline – Mumbrella|date=2017-02-17|work=Mumbrella|access-date=2017-05-25}}</ref>
| ISSN = 0404-2018
| ISSN = 0404-2018
| eISSN = 1444-9900
| eISSN = 1444-9900
| oclc = 1131035760
| oclc = 1131035760
| website = {{URL|www.afr.com}}
| website = {{URL|www.afr.com}}
}}
}}
⚫
The '''''Australian Financial Review''''' ('''''AFR''''') is an Australian business-focused, [[Compact (newspaper)|compact]] [[daily newspaper]] covering the current business and economic affairs of Australia and the world. The newspaper is based in [[Sydney]], New South Wales, Australia; owned by [[Nine Entertainment]] and has been published continuously since its founding in 1951. The ''AFR'', along with the rest of [[Fairfax Media]] (aside from some publications which were sold to [[Australian Community Media]]), was sold to Nine Entertainment for more than [[Australian dollar|A$]]2.3 billion.<ref name="mergermarket.com">{{cite web |url=https://www.mergermarket.com/login?onSuccess=http%3A%2F%2Fwww.mergermarket.com%2FCommon%2FMergermarket%2FDeals%2FDealDetails.aspx%3Fdealsysid%3D933952%26extern%3D19%26id%3D239512%26contextid%3D1018456074%26zone%3D205%26currencyCode%3DAUD&d=1|publisher=Merger Market|title=Fairfax Media Limited Nine Entertainment Co. Holdings Ltd Merger|access-date=1 February 2023}} (subscription required)</ref> The ''AFR'' is published in tabloid format six times a week, whilst providing 24/7 online coverage through its website. In November 2019, the ''AFR'' reached 2.647 million Australians through both print and digital mediums (Mumbrella).<ref name=M2020 >
[https://mumbrella.com.au/smh-afr-and-the-age-all-report-audience-growth-in-november-616747 SMH, AFR and The Age all report audience growth in November] Mumbrella 2020</ref>


⚫
The ''Australian Financial Review'' started as a print-only [[weekly newspaper]] in 1951, before changing to a [[Bi-weekly newspaper|bi-weekly]] in 1961, and a [[daily newspaper]] in 1963. The paper now publishes multiple [[magazine]]s and a supplementary weekend paper, which was launched in 1995. In that same year, the AFR website was also released, which helped to expand its readership base across all media.<ref>[https://www.afr.com/ AFR website]</ref>
⚫
'''''The Australian Financial Review''''' (abbreviated to '''the ''AFR''''') is an Australian business-focused, [[Compact (newspaper)|compact]] [[daily newspaper]] covering the current business and economic affairs of Australia and the world. The newspaper is based in [[Sydney]], New South Wales, Australia; owned by [[Nine Entertainment Co.|Nine Entertainment Co]] and has been published continuously since its founding in 1951. The ''AFR'', along with the rest of [[Fairfax Media]], was sold to Nine Entertainment for more than [[Australian dollar|A$]]2.3 billion.<ref name="mergermarket.com">Mergermarket - An Acuris company. (n.d''.). Fairfax Media Limited Nine Entertainment Co. Holdings Ltd Merger.'' Retrieved from www.mergermarket.com/Common/Mergermarket/Deals/DealDetails.aspx?dealsysid=933952&extern=19&id=239512&contextid=1018456074&zone=205&currencyCode=AUD</ref> The ''AFR'' is published in tabloid format 6 times a week, whilst providing 24/7 online coverage through its website: [https://www.afr.com www.afr.com]. In November 2019, the ''AFR'' reached 2.647 million Australians through both print and digital mediums (Mumbrella).<ref name=M2020 >Mumbrella. (2020). ''SMH, AFR and The Age all report audience growth in November.'' Retrieved from the Mumbrella website: <nowiki>https://mumbrella.com.au/smh-afr-and-the-age-all-report-audience-growth-in-november-616747</nowiki></ref>

⚫
The ''Australian Financial Review'' started as a print-only [[weekly newspaper]] in 1951, before changing to a [[Bi-weekly newspaper|bi-weekly]] in 1961, and a [[daily newspaper]] in 1963. The paper now publishes multiple [[magazine]]s and a supplementary weekend paper, which was launched in 1995. In that same year, the AFR website was also released, which helped to expand its readership base across all media.<ref>https://www.afr.com/ ''AFR'' website</ref>

Historically, the ''AFR's'' news articles and editorials favoured [[Neoliberalism|neo-liberal]] ideals, influencing Australian policy debates during the 1970s - 1980s. During the 2000s, the ''AFR'' took on the role of the 'corporate watchdog', scrutinising businesses and the government for foul play and corruption. In more recent years, the ''AFR''<nowiki/>'s editorial stance and news coverage has become more neutral. However, it is still considered moderately [[Conservatism in the United States|conservative]] in its reporting bias with regards to free market regulation policies, but relatively close to the centre in its political views amongst Australian newspapers.<ref>Crikey. (2007). Crikey Bias-o-meter: The newspapers. Retrieved from the ''Crikey'' website: <nowiki>https://www.crikey.com.au/2007/06/26/crikey-bias-o-meter-the-newspapers/</nowiki></ref>


==History==
==History==
The ''Australian Financial Review'' newspaper started as a weekly publication in 1951, published by [[John Fairfax & Sons]]. The paper's main objective was to inform the Australian public on business life and news.<ref name=Doyle >Doyle H. (2001). "[http://www.oxfordreference.com/view/10.1093/acref/9780195515039 Australian Financial Review]". In ''The Oxford Companion to Australian History''. Oxford University Press</ref>
The ''Australian Financial Review'' newspaper started as a weekly publication in 1951, published by [[Fairfax Media|John Fairfax & Sons]]. The paper's main objective was to inform the Australian public on business life and news.<ref name=Doyle >Doyle H. (2001). "[http://www.oxfordreference.com/view/10.1093/acref/9780195515039 Australian Financial Review]". In ''The Oxford Companion to Australian History''. Oxford University Press.</ref>


In 1961, the ''AFR'' converted to a bi-weekly, and then established itself as the first daily newspaper by 1963.<ref name=C2014 >Carson, A. (2014). "[https://doi.org/10.1080/10361146.2014.963025 The political economy of the print media and the decline of corporate investigative journalism in Australia]". ''Australian Journal of Political Science'', 49(4), pp.726–742.</ref> Despite other newspapers claiming the title of the first daily national paper, Maxwell Newton was the editor in charge of taking the ''Financial Review'' from a bi-weekly to the first daily national paper.<ref>Goot, M. (2015, November). Fifty years of the Australian. ''Media International Australia incorporating Culture and Policy'', (157), 5+. <nowiki>https://link.gale.com/apps/doc/A436233544/AONE?u=usyd&sid=AONE&xid=e17f5c80</nowiki></ref> During 1961-62, the ''AFR's'' primary competitor was The ''Australian Financial Times'', which was in operation for less than 12 months. In the 1960s and 1970s, the ''AFR'' developed a strong readership amongst a specialist business audience due to its neutral stance on domestic government policies.<ref name=Doyle/> In the 1970s, despite the ''AFR's'' reputation as a national business daily, many saw it as the primary competitor for ''The Australian'' given its high proportion of readers in the [[NRS social grade|AB demographic]].<ref>Goot, M. (2015, November). Fifty years of the Australian. ''Media International Australia incorporating Culture and Policy'', (157), 5+. <nowiki>https://link.gale.com/apps/doc/A436233544/AONE?u=usyd&sid=AONE&xid=e17f5c80</nowiki></ref>
In 1961, the ''AFR'' converted to a bi-weekly, and then established itself as the first daily newspaper by 1963.<ref name=C2014 >Carson, A. (2014). "[https://doi.org/10.1080/10361146.2014.963025 The political economy of the print media and the decline of corporate investigative journalism in Australia]". ''Australian Journal of Political Science'', 49(4), pp.726–742.</ref> Despite other newspapers claiming the title of the first daily national paper, Maxwell Newton was the editor in charge of taking the ''Financial Review'' from a bi-weekly to the first daily national paper.<ref name="auto6">Goot, M. (2015, November). [https://link.gale.com/apps/doc/A436233544/AONE?u=usyd&sid=AONE&xid=e17f5c80 Fifty years of the Australian], ''Media International Australia incorporating Culture and Policy'', (157), 5+.</ref> During 1961–62, the ''AFR's'' primary competitor was The ''Australian Financial Times'', which was in operation for less than 12 months. In the 1960s and 1970s, the ''AFR'' developed a strong readership amongst a specialist business audience due to its neutral stance on domestic government policies.<ref name=Doyle/> In the 1970s, despite the ''AFR's'' reputation as a national business daily, many saw it as the primary competitor for ''The Australian'' given its high proportion of readers in the [[NRS social grade|AB demographic]].<ref name="auto6"/>


In 1995, Fairfax launched the ''Australian Financial Review [[Magazine]]'' in response to its growing readership across a wide-ranging audience.<ref>Nine for Brands. (2020). ''The Australian Financial Review Magazine.'' Retrieved from the Nine for Brands website: <nowiki>https://www.nineforbrands.com.au/wp-content/uploads/2020/04/AFR-Magazine_2020.pdf</nowiki></ref> The magazine was published to cover topics other than business including [[leisure]], [[politics]], [[travel]], [[sport]]s, [[fashion]], and other peripheral topics.<ref>Mumbrella. (2017). ''Australian Financial Review Magazine marks ten years of its watch lift out.'' Retrieved from the Mumbrella website: <nowiki>https://mumbrella.com.au/australian-financial-review-magazine-marks-ten-years-watch-lift-461070</nowiki></ref> In December 2019, the magazine recorded an average issue readership of 326,000.<ref>{{cite news | date=6 February 2020 | title=First full year since Nine purchase of Fairfax sees audience increases for SMH, The Age and Australian Financial Review | url=http://www.roymorgan.com/findings/8279-roy-morgan-newspaper-readership-results-december-2019-202002060615 | publisher=Roy Morgan | accessdate=23 February 2021 }}</ref> Since its launch in 1995, the ''AFR Magazine'' has won the 'Best Newspaper Inserted Magazine' (2013-2019), 'Newspaper Inserted Brand of the Year' (2019) and Mumbrella's 'Special Issue of the Year' (2019).<ref>Nine for Brands. (2020). ''The Australian Financial Review Magazine.'' Retrieved from the Nine for Brands website: <nowiki>https://www.nineforbrands.com.au/wp-content/uploads/2020/04/AFR-Magazine_2020.pdf</nowiki></ref>
In 1995, Fairfax launched the ''Australian Financial Review [[Magazine]]'' in response to its growing readership across a wide-ranging audience.<ref name="auto1">{{cite web|author=Nine for Brands|year=2020|title=The Australian Financial Review Magazine|url= https://www.nineforbrands.com.au/wp-content/uploads/2020/04/AFR-Magazine_2020.pdf|access-date=19 January 2023}}</ref> The magazine was published to cover topics other than business including [[leisure]], [[politics]], [[travel]], [[sport]]s, [[fashion]], and other peripheral topics.<ref name="auto5">{{cite web|work=Mumbrella|year=2017|title=Australian Financial Review Magazine marks ten years of its watch lift out
|url=https://mumbrella.com.au/australian-financial-review-magazine-marks-ten-years-watch-lift-461070|access-date=19 January 2023}}</ref> In December 2019, the magazine recorded an average issue readership of 326,000.<ref>{{cite news | date=6 February 2020 | title=First full year since Nine purchase of Fairfax sees audience increases for SMH, The Age and Australian Financial Review | url=http://www.roymorgan.com/findings/8279-roy-morgan-newspaper-readership-results-december-2019-202002060615 | publisher=Roy Morgan | accessdate=23 February 2021 }}</ref> Since its launch in 1995, the ''AFR Magazine'' has won the 'Best Newspaper Inserted Magazine' (2013-2019), 'Newspaper Inserted Brand of the Year' (2019) and Mumbrella's 'Special Issue of the Year' (2019).<ref name="auto1"/>


The magazine's founding was followed by the launch of the ''AFR''<nowiki/>'s website in the same year, which started as a free online source of financial news.<ref>Muck Rack. (n.d.). ''Australian Financial Review''. Retrieved from <nowiki>https://muckrack.com/media-outlet/ausfinancialreview</nowiki></ref>
The magazine's founding was followed by the launch of the ''AFR''{{'s}} website in the same year, which started as a free online source of financial news.<ref>{{cite web|author=Muck Rack|title=Australian Financial Review'|url=https://muckrack.com/media-outlet/ausfinancialreview
|access-date=19 January 2023}}</ref>


In 1997, the ''AFR'' launched its ''Weekend Edition'' which extended the paper's publications into the weekend, with an explicit focus of targeting the growing readership base by providing news articles outside of the traditional finance setting.<ref>Nine for Brands. (2020). ''The Australian Financial Review Magazine.'' Retrieved from the Nine for Brands website: <nowiki>https://www.nineforbrands.com.au/wp-content/uploads/2020/04/AFR-Magazine_2020.pdf</nowiki></ref>
In 1997, the ''AFR'' launched its ''Weekend Edition'' which extended the paper's publications into the weekend, with an explicit focus of targeting the growing readership base by providing news articles outside of the traditional finance setting.<ref name="auto1"/>


In 2016, the ''AFR'' launched mobile and iPad compatible applications to provide its digital subscribers more accessibility to its news platform. This was aimed at allowing cross-platform accessibility without having to download two separate applications across different device platforms.<ref>Samios, Z. (2017). NEWSThe AFR launches news app with cross device accessibility. Retrieved from the Mumbrella website: <nowiki>https://mumbrella.com.au/afr-launches-multi-channel-app-408804</nowiki></ref> The application carries similar features to the website including sections such as: Street Talk and Rear Window. The product management team decided to revamp the app due to the wide uptake of smartphones in the Australian market, and to improve their user-interface experience. The UTS Business School was the launch partner for the app, providing logistical advice on the app's delivery.<ref>The Misfits Media Company. (2016). ''The Australian Financial Review Launched Universal App''. Retrieved from <nowiki>https://www.bandt.com.au/the-australian-financial-review-launches-universal-app/</nowiki></ref> The app’s subscription price is included in the ‘all premium digital subscription’ bundle.
In 2016, the ''AFR'' launched mobile and iPad compatible applications to provide its digital subscribers more accessibility to its news platform. This was aimed at allowing cross-platform accessibility without having to download two separate applications across different device platforms.<ref>{{cite web|last1=Samios|first1= Z.| year=2017|title= NEWS: The AFR launches news app with cross device accessibility| url=https://mumbrella.com.au/afr-launches-multi-channel-app-408804|access-date=19 January 2023}}</ref> The application carries similar features to the website including sections such as: Street Talk and Rear Window. The product management team decided to revamp the app due to the wide uptake of smartphones in the Australian market, and to improve their user-interface experience. The UTS Business School was the launch partner for the app, providing logistical advice on the app's delivery.<ref>{{cite web|author=The Misfits Media Company|year=2016|title=The Australian Financial Review Launched Universal App|url=https://www.bandt.com.au/the-australian-financial-review-launches-universal-app/|access-date=19 January 2023}}</ref> The app's subscription price is included in the 'all premium digital subscription' bundle.


The ''Australian Financial Review'' has grown its product offerings since its beginnings as a [[finance]] [[newsroom]]. It has consistently been well received by the journalism sector as one of the most high-quality newsrooms across Australia.<ref>Henningham, J. (1996). Journalists’ perceptions of newspaper quality. ''Australian Journalism Review'', 18(1), 13–19.</ref> Since the 2000s, the ''AFR'' has launched ''BOSS'' (magazine for business leadership and strategy) and the ''Sophisticated Traveller'' magazine. In 2019, the ''Australian Financial Review'' recorded double-digit subscriber growth, as it continued to market its newspaper as the driver of Australian businesspeople’s success and ambitions.<ref name=M2020/> In 2020, due to the newspaper company's expansion efforts across different readership bases, the ''AFR'' reached 2.647m Australians a month.<ref name=M2020/>
The ''Australian Financial Review'' has grown its product offerings since its beginnings as a [[finance]] [[newsroom]]. It has consistently been well received by the journalism sector as one of the most high-quality newsrooms across Australia.<ref>{{cite journal|last1=Henningham|first1=J.|year=1996|title=Journalists' perceptions of newspaper quality|journal=Australian Journalism Review|volume=18|issue=1| pages=13–19}}</ref> Since the 2000s, the ''AFR'' has launched ''BOSS'' (magazine for business leadership and strategy) and the ''Sophisticated Traveller'' magazine. In 2019, the ''Australian Financial Review'' recorded double-digit subscriber growth, as it continued to market its newspaper as the driver of Australian business-people's success and ambitions.<ref name=M2020/> In 2020, due to the newspaper company's expansion efforts across different readership bases, the ''AFR'' reached 2.647m Australians a month.<ref name=M2020/>


=== Evolution of Paywall System ===
=== Evolution of Paywall System ===
The ''AFR'' first introduced its [[paywall]] in 2006, charging online users to view its articles – a payment model that had not yet been utilised by any other Australian newspaper firm.<ref>Jackson, S. (30 November 2011). Australian Financial Review lowers its paywall. ''The Australian.'' Retrieved from <nowiki>https://www.theaustralian.com.au</nowiki></ref> The switch to a paywall was done because the newspaper company thought it could further monetise its niche business audience who could afford it.<ref>Young, S. (2011). The elite public sphere. In ''How Australia Decides: Election Reporting and the Media'' (pp. 42-60). Cambridge: Cambridge University Press. doi:10.1017/CBO9780511984778.004</ref> Following this change, the ''AFR'' continued to adjust the pricing of its subscription due to low subscriber growth.<ref>Carson, A. (2015). Behind the newspaper paywall – lessons in charging for online content: a comparative analysis of why Australian newspapers are stuck in the purgatorial space between digital and print. ''Media, Culture & Society'', 37(7), 1022–1041. <nowiki>https://doi.org/10.1177/0163443715591669</nowiki></ref>
The ''AFR'' first introduced its [[paywall]] in 2006, charging online users to view its articles – a payment model that had not yet been utilised by any other Australian newspaper firm.<ref>{{cite web|last1=Jackson|first1= S|date=30 November 2011|title= Australian Financial Review lowers its paywall|website=The Australian|url=https://www.theaustralian.com.au|access-date=19 January 2023}}</ref> The switch to a paywall was done because the newspaper company thought it could further monetise its niche business audience who could afford it.<ref>{{cite book|last1=Young|first1= S.|year=2011|chapter= The elite public sphere|title=How Australia Decides: Election Reporting and the Media|pages=42–60|place=Cambridge|publisher=Cambridge University Press| doi=10.1017/CBO9780511984778.004|isbn= 9780521147071}}</ref> Following this change, the ''AFR'' continued to adjust the pricing of its subscription due to low subscriber growth.<ref name="auto3">{{cite journal|last1=Carson|first1=A.|year=2015|title=Behind the newspaper paywall – lessons in charging for online content: a comparative analysis of why Australian newspapers are stuck in the purgatorial space between digital and print|journal=Media, Culture & Society|volume= 37|issue=7|pages= 1022–1041| doi=10.1177/0163443715591669|s2cid=145226933 }}</ref>


In 2011, it newly introduced a freemium paywall in which only a small portion of articles were free. It has been noted that the ''AFR's'' website locks approximately 86% of its online content behind a paywall, higher than its closest competitor the ''[[National Business Review]]''.<ref>Carson, A. (2015). Behind the newspaper paywall – lessons in charging for online content: a comparative analysis of why Australian newspapers are stuck in the purgatorial space between digital and print. ''Media, Culture & Society'', 37(7), 1022–1041. <nowiki>https://doi.org/10.1177/0163443715591669</nowiki></ref> This was aimed at increasing its digital readership which in 2011 amounted to 6,000 subscribers.<ref>Burrowes, T. (2011). A decade on, AFR has 6711 subscribers to its paywall. Retrieved from the Mumbrella website: <nowiki>https://mumbrella.com.au/a-decade-on-afr-has-6711-subscribers-to-its-paywall-39369</nowiki></ref> In addition, it was later determined that the ''AFR's'' failures in attracting online subscribers was due to its paywall being too expensive. Its 2012 price of $59 AUD was notably higher than other international mastheads, including ''[[The New York Times]]'' which was priced at $37.84 AUD.<ref>Carson, A. (2015). Behind the newspaper paywall – lessons in charging for online content: a comparative analysis of why Australian newspapers are stuck in the purgatorial space between digital and print. ''Media, Culture & Society'', 37(7), 1022–1041. <nowiki>https://doi.org/10.1177/0163443715591669</nowiki></ref> As a result, the ''AFR'' has since lowered its digital subscription price to $29.50 AUD.
In 2011, it newly introduced a freemium paywall in which only a small portion of articles were free. It has been noted that the ''AFR's'' website locks approximately 86% of its online content behind a paywall, higher than its closest competitor the ''[[National Business Review]]''.<ref name="auto3"/> This was aimed at increasing its digital readership which in 2011 amounted to 6,000 subscribers.<ref>{{cite web|last1=Burrowes|first1=T.|year=2011|title=A decade on, AFR has 6711 subscribers to its paywall|url=https://mumbrella.com.au/a-decade-on-afr-has-6711-subscribers-to-its-paywall-39369|access-date=19 January 2023|website=Mumbrella}}</ref> In addition, it was later determined that the ''AFR's'' failures in attracting online subscribers was due to its paywall being too expensive. Its 2012 price of $59 AUD was notably higher than other international mastheads, including ''[[The New York Times]]'' which was priced at $37.84 AUD.<ref name="auto3"/> As a result, the ''AFR'' has since lowered its digital subscription price to $29.50 AUD.


=== Nine Entertainment merger ===
=== Nine Entertainment merger ===
The mega-cap deal that saw [[Nine Entertainment]] and [[Fairfax Media]] merge was inspired by initial chats between Hugh Marks ([Nine CEO) and Nick Falloon (Fairfax chairman).<ref>McDuling, J. (7 December 2018). What does the Nine-Fairfax merger mean? ''Sydney Morning Herald.'' Retrieved from <nowiki>https://www.smh.com.au/business/companies/what-does-the-nine-fairfax-merger-mean-20181204-p50k1o.html</nowiki></ref> The pair discussed how the two companies’ assets could synergise, improve efficiencies, save costs and increase scale. During the lead up to the merger, there were a few roadblocks. In 2016, the proposed merger was not feasible due to government legislation surrounding media ownership.<ref>Department of Intrastructure, Transport, Regional Development and Communications. (n.d.). ''Updating Australia's media laws.'' Canberra, Australia: Author.</ref> In addition, Nine Entertainment's board believed that its [[share price]] was [[Undervalued stock|undervalued]] and thus wanted to delay any acquisition until its fair value had been reflected. Amongst the delays in talks between the two parties, Fairfax had other suitors including [[private equity]] groups [[TPG Capital]] and [[Hellman & Friedman]], which ended up walking away from the table.<ref>Dunckley, M. (7 May 2017). Fairfax Media confirms unsolicited TPG approach. ''Sydney Morning Herald.'' Retrieved from <nowiki>https://www.smh.com.au/business/companies/tpg-moves-to-buy-fairfax-medias-publishing-and-property-arms--reports-20170507-gvzoz2.html</nowiki></ref>
The mega-cap deal that saw [[Nine Entertainment]] and [[Fairfax Media]] merge was inspired by initial chats between Hugh Marks (Nine CEO) and Nick Falloon (Fairfax chairman).<ref name=mcd18>McDuling, J. (7 December 2018). [https://www.smh.com.au/business/companies/what-does-the-nine-fairfax-merger-mean-20181204-p50k1o.html What does the Nine-Fairfax merger mean?] ''Sydney Morning Herald.''</ref> The pair discussed how the two companies' assets could synergise, improve efficiencies, save costs and increase scale. During the lead up to the merger, there were a few roadblocks. In 2016, the proposed merger was not feasible due to government legislation surrounding media ownership.<ref>Department of Intrastructure, Transport, Regional Development and Communications. (n.d.). ''Updating Australia's media laws.'' Canberra, Australia: Author.</ref> In addition, Nine Entertainment's board believed that its [[share price]] was [[Undervalued stock|undervalued]] and thus wanted to delay any acquisition until its fair value had been reflected. Amongst the delays in talks between the two parties, Fairfax had other suitors including [[private equity]] groups [[TPG Capital]] and [[Hellman & Friedman]], which ended up walking away from the table.<ref>Dunckley, M. (7 May 2017). [https://www.smh.com.au/business/companies/tpg-moves-to-buy-fairfax-medias-publishing-and-property-arms--reports-20170507-gvzoz2.html Fairfax Media confirms unsolicited TPG approach] ''Sydney Morning Herald.''</ref>


In 2018, Nine Entertainment's board re-entered into talks with Fairfax of a potential [[Mergers and acquisitions|merger]] after its share price had jumped following an upbeat earnings report.<ref>Harrison, T. (2018). ''Nine Entertainment Co Holdings Ltd share price is up 15% on profit growth of 55%''. Retrieved from the Motley Fool website: <nowiki>https://www.fool.com.au/2018/02/22/nine-entertainment-co-holdings-ltd-share-price-is-up-15-on-profit-growth-of-55/</nowiki></ref> The proposed structure of the takeover was 0.3627 Nine shares plus $0.025 AUD per Fairfax share, composing a [[cash]] plus [[scrip]] deal. This represented a 21.9% takeover premium to Fairfax's last close, and valued Fairfax at $2313.8mm AUD.<ref name="mergermarket.com"/> Once the deal was made, it was reported that Fairfax's portfolio newspapers, including the ''AFR'', would maintain independence from Nine's media groups. As part of the proposed deal, Hugh Marks took over corporate control of the combined group with Fairfax CEO, [[Greg Hywood]], stepping down.
In 2018, Nine Entertainment's board re-entered into talks with Fairfax of a potential [[Mergers and acquisitions|merger]] after its share price had jumped following an upbeat earnings report.<ref>Harrison, T. (2018). [https://www.fool.com.au/2018/02/22/nine-entertainment-co-holdings-ltd-share-price-is-up-15-on-profit-growth-of-55/ Nine Entertainment Co Holdings Ltd share price is up 15% on profit growth of 55%] Motley Fool</ref> The proposed structure of the takeover was 0.3627 Nine shares plus $0.025 AUD per Fairfax share, composing a [[cash]] plus [[scrip]] deal. This represented a 21.9% takeover premium to Fairfax's last close, and valued Fairfax at $2313.8mm AUD.<ref name="mergermarket.com"/> Once the deal was made, it was reported that Fairfax's portfolio newspapers, including the ''AFR'', would maintain independence from Nine's media groups. As part of the proposed deal, Hugh Marks took over corporate control of the combined group with Fairfax CEO, [[Greg Hywood]], stepping down.


The combined entity in 2018 was forecasted to have approximately 6,000 employees (inclusive of all the duplicate roles made redundant), major resources across all media types including print, TV, radio and online; and $3 billion in revenue.<ref>McDuling, J. (2018). ''What does the Nine-Fairfax merger mean?'' Retrieved from <nowiki>https://www.smh.com.au/business/companies/what-does-the-nine-fairfax-merger-mean-20181204-p50k1o.html</nowiki></ref>
The combined entity in 2018 was forecasted to have approximately 6,000 employees (inclusive of all the duplicate roles made redundant), major resources across all media types including print, TV, radio and online; and $3 billion in revenue.<ref name=mcd18/>


The proposed merger was also put under review by the [[Australian Competition & Consumer Commission]] (ACCC) on antitrust measures.<ref>Duke, J. (8 November 2018). Competition regulator gives green light to Nine-Fairfax merger. ''Sydney Morning Herald''. Retrieved from <nowiki>https://www.smh.com.au/business/companies/competition-regulator-gives-green-light-to-nine-fairfax-merger-20181107-p50egf.html</nowiki></ref> It was announced in November 2018 that the ACCC would not oppose the merger. The investigation looked at the merger’s impact on the online news industry’s competition and involved contacting numerous stakeholders. It was noted that the merger would most likely reduce competition in the domestic media market, but that it was not in breach of the [[Competition and Consumer Act 2010|Competition and Consumer Act]]. The main point of divergence between the two business’ assets was the fact that Nine Entertainment’s news assets provided mass market news coverage whereas Fairfax Media’s news assets provided more specialist coverage.<ref>Australia Competition & Consumer Commission. (2018). ''ACCC will not oppose Nine-Fairfax merger''. Retrieved from <nowiki>https://www.accc.gov.au/media-release/accc-will-not-oppose-nine-fairfax-merger</nowiki></ref>
The proposed merger was also put under review by the [[Australian Competition & Consumer Commission]] (ACCC) on antitrust measures.<ref name="auto2">Duke, J. (8 November 2018). [https://www.smh.com.au/business/companies/competition-regulator-gives-green-light-to-nine-fairfax-merger-20181107-p50egf.html Competition regulator gives green light to Nine-Fairfax merger] ''Sydney Morning Herald''</ref> It was announced in November 2018 that the ACCC would not oppose the merger. The investigation looked at the merger's impact on the online news industry's competition and involved contacting numerous stakeholders. It was noted that the merger would most likely reduce competition in the domestic media market, but that it was not in breach of the [[Competition and Consumer Act 2010|Competition and Consumer Act]]. The main point of divergence between the two business' assets was that Nine Entertainment's news assets provided mass market news coverage whereas Fairfax Media's news assets provided more specialist coverage.<ref>[https://www.accc.gov.au/media-release/accc-will-not-oppose-nine-fairfax-merger ACCC will not oppose Nine-Fairfax merger] Australia Competition & Consumer Commission. (2018).</ref>


Despite the ACCC's ruling, there were a few stakeholders who voiced their concerns about the merger's impact on the Australian media industry's competitive landscape.<ref>Duke, J. (8 November 2018). Competition regulator gives green light to Nine-Fairfax merger. ''Sydney Morning Herald''. Retrieved from <nowiki>https://www.smh.com.au/business/companies/competition-regulator-gives-green-light-to-nine-fairfax-merger-20181107-p50egf.html</nowiki></ref> Union groups such as the Media Entertainment and Arts Alliance, and the Journalists' union warned the ACCC that the mega-cap takeover would threaten the editorial independence of Fairfax Media's portfolio newspaper companies. Former prime minister Paul Keating also voiced his criticisms labelling the ACCC's decision as "appalling", considering that a more concentrated media industry would reduce coverage of city-specific political issues.<ref>Ex-PM Paul Keating calls Nine, Fairfax merger 'appalling'. (8 November 2018). ''SBS News''. Retrieved from <nowiki>https://www.sbs.com.au/news/ex-pm-paul-keating-calls-nine-fairfax-merger-appalling</nowiki></ref>
Despite the ACCC's ruling, there were a few stakeholders who voiced their concerns about the merger's impact on the Australian media industry's competitive landscape.<ref name="auto2"/> Union groups such as the Media Entertainment and Arts Alliance, and the Journalists' union warned the ACCC that the mega-cap takeover would threaten the editorial independence of Fairfax Media's portfolio newspaper companies. Former prime minister Paul Keating also voiced his criticisms labelling the ACCC's decision as "appalling", considering that a more concentrated media industry would reduce coverage of city-specific political issues.<ref>[https://www.sbs.com.au/news/ex-pm-paul-keating-calls-nine-fairfax-merger-appalling Ex-PM Paul Keating calls Nine, Fairfax merger 'appalling'] ''SBS News'' 8 November 2018</ref>


== Features and operations ==
== Features and operations ==

=== Newspaper Sections ===
=== Newspaper Sections ===
Within the AFR’s daily newspaper, regularly scheduled sections include:<ref>Nine for Brands. (2020). Financial Review. Retrieved from <nowiki>https://www.nineforbrands.com.au/wp-content/uploads/2020/07/Australian-Financial-Review-Media-Kit-2020.pdf</nowiki></ref>
Within the AFR's daily newspaper, regularly scheduled sections include:<ref>[https://www.nineforbrands.com.au/wp-content/uploads/2020/07/Australian-Financial-Review-Media-Kit-2020.pdf Nine for Brands] Financial Review. 2020</ref>


* World – news and analysis on global companies and the international business environment.
* World – news and analysis on global companies and the international business environment.
* Chanticleer – business opinion column that looks into individual companies in-depth, analysing their operations, management and board of directors.
* Chanticleer – the long-running business opinion column (begun July 1974) that looks into individual companies in-depth, analysing their operations, management and board of directors.<ref>{{cite news |last1=Boyd |first1=Tony |title=With gravitas and humour, Chanticleer tells the story behind the news |url=https://www.afr.com/companies/media-and-marketing/with-gravitas-and-humour-chanticleer-tells-the-story-behind-the-news-20210805-p58g98 |access-date=9 July 2022 |work=Australian Financial Review |publisher=Nine Entertainment |date=2021-08-05 |quote=The country's pre-eminent business column was born during a long lunch in Melbourne in the mid-1970s.}}</ref>
* Accounting & Consulting – Targeted at senior executives and management, this section lays out lateral personnel movements within the finance sector, recent company news, and key participants in the industry
* Accounting & Consulting – Targeted at senior executives and management, this section lays out lateral personnel movements within the finance sector, recent company news, and key participants in the industry
* Education – provides information regarding professional development, the education sector, and news regarding company training
* Education – provides information regarding professional development, the education sector, and news regarding company training
Line 81: Line 81:
* '''The ''Australian Financial Review'' daily newspaper''', founded in 1951, the paper aims to provide information regarding the Australian business landscape.
* '''The ''Australian Financial Review'' daily newspaper''', founded in 1951, the paper aims to provide information regarding the Australian business landscape.
* '''The ''Weekend Edition''''', delivered on Saturday, covers important business topics as well as general news and leisure-focused topics.
* '''The ''Weekend Edition''''', delivered on Saturday, covers important business topics as well as general news and leisure-focused topics.
* '''Afr.com''', the ''AFR''<nowiki/>'s news website, provides online access to a news database with topics including markets, politics, policy, property, and others.<ref>Myllylahti, Merja. (2017). "[https://doi.org/10.1080/21670811.2016.1178074 What Content is Worth Locking Behind a Paywall? Digital news commodification in leading Australasian financial newspapers]". ''[[Digital Journalism (journal)|Digital Journalism]]'', 5(4), 460–471, (Paywall site)</ref>
* '''Afr.com''', the ''AFR''{{'s}} news website, provides online access to a news database with topics including markets, politics, policy, property, and others.<ref>Myllylahti, Merja. (2017). "[https://doi.org/10.1080/21670811.2016.1178074 What Content is Worth Locking Behind a Paywall? Digital news commodification in leading Australasian financial newspapers]". ''[[Digital Journalism (journal)|Digital Journalism]]'', 5(4), 460–471, (Paywall site)</ref>
* '''''Sophisticated Traveller''''' – Since 2004, this quarterly magazine has been targeting high net worth individuals, covering content regarding luxury travel.<ref>'Oh So Frenchy' - Sophisticated Traveller 'Insider' Edition Revealed. (15 February 2019). ''B&T Magazine.'' Retrieved from <nowiki>https://www.bandt.com.au/sophisticated-traveller-opens-2019-insider-edition/</nowiki></ref>
* '''''Sophisticated Traveller''''' – Since 2004, this quarterly magazine has been targeting high net worth individuals, covering content regarding luxury travel.<ref>[https://www.bandt.com.au/sophisticated-traveller-opens-2019-insider-edition/ 'Oh So Frenchy' - Sophisticated Traveller 'Insider' Edition Revealed] (15 February 2019). ''B&T Magazine.''</ref>
* '''''Australian Financial Review Magazine''''' – Monthly inserted magazine providing content on high profile business news, politics, fashion and luxury. The magazine was launched in 1995.<ref>Mumbrella. (2017). ''Australian Financial Review Magazine marks ten years of its watch lift out.'' Retrieved from the Mumbrella website: <nowiki>https://mumbrella.com.au/australian-financial-review-magazine-marks-ten-years-watch-lift-461070</nowiki></ref>
* '''''Australian Financial Review Magazine''''' – Monthly inserted magazine providing content on high-profile business news, politics, fashion and luxury. The magazine was launched in 1995.<ref name="auto5"/>
* '''''BOSS''''' - This magazine aims to deliver content to Australia's business seniors about company management, leadership and influential trends.
* '''''BOSS''''' - This magazine aims to deliver content to Australia's business seniors about company management, leadership and influential trends.
* '''''LUXURY''''' – A quarterly magazine covering trends in the luxury industry including watches, jewellery, fashion, and others.
* '''''LUXURY''''' – A quarterly magazine covering trends in the luxury industry including watches, jewellery, fashion, and others.


=== Financial Review Rich List ===
=== Financial Review Rich List ===
The [[Financial Review Rich List]] aims to compile an annual ranking of the wealthiest Australian citizens. The list was first published in the ''[[BRW (magazine)|BRW Magazine]]'' in 1984.<ref>Stensholt, J., Tadros, E. (26 May 2017). Rich List 2017: the 15 names on every list since 1984. ''Australian Financial Review.'' Retrieved from <nowiki>http://www.afr.com.au</nowiki></ref> Since its beginnings, the compilation of the list and its publishing have been taken over by the ''AFR'', now being published annually in the ''Australian Financial Review Magazine'' and on the [https://www.afr.com/rich-list afr.com]. Along with the names of the richest people, the list explicates the person or family's net worth and provides a short summary on the business activities and sector they are engaged in. The valuations are conducted by utilising a mix of publicly available information and private consultations. In 2019, the cut-off for making the Rich List was $472m AUD. In 2020, the cut-off was raised to $540m AUD.<ref>Bailey, M., Sprague, J. (30 October 2020). The full list: Australia's wealthiest 200 revealed. ''Australian Financial Review''. Retrieved from <nowiki>http://www.afr.com.au</nowiki></ref>
The [[Financial Review Rich List]] aims to compile an annual ranking of the wealthiest Australian citizens. The list was first published in the ''[[BRW (magazine)|BRW Magazine]]'' in 1984.<ref>Stensholt, J., Tadros, E. (26 May 2017). Rich List 2017: the 15 names on every list since 1984. ''Australian Financial Review.'' Retrieved from [http://www.afr.com.au]</ref> Since its beginnings, the compilation of the list and its publishing have been taken over by the ''AFR'', now being published annually in the ''Australian Financial Review Magazine'' and on the [https://www.afr.com/rich-list afr.com]. Along with the names of the richest people, the list explicates the person or family's net worth and provides a short summary on the business activities and sector they are engaged in. The valuations are conducted by utilising a mix of publicly available information and private consultations. In 2019, the cut-off for making the Rich List was $472m AUD. In 2020, the cut-off was raised to $540m AUD.<ref>Bailey, M., Sprague, J. (30 October 2020). [http://www.afr.com.au The full list: Australia's wealthiest 200 revealed]. ''Australian Financial Review''. ></ref>

⚫
== Reporting ==

=== Reporting stance ===
⚫
During 1975 to 1983, when ''[[The Australian]]'' widely articulated its political stance on [[Conservatism|conservative]] [[liberalism]], it had been noted that the ''AFR'' also promoted [[Neoliberalism|neo-liberalism]] through its news coverage and editorials, exerting influence on the business sphere of Australia and its elitist readership base.<ref name="auto4">Mcknight, D. (2003). [https://doi.org/10.1080/14616700306493 "A World Hungry for a New Philosophy": Rupert Murdoch and the rise of neo-liberalism] ''Journalism Studies'' (London, England), 4(3), 347–358</ref> The newspaper has also been labelled as one of the propagators of radical liberalism during the 1970s – 1980s, shaping the policy debate surrounding market deregulation at that time.<ref name="auto4"/> This was in line with the overarching political stance of all Fairfax Holdings owned newspapers, including ''[[The Sydney Morning Herald]]'', which in the 1970s was also right-leaning in its political views.<ref>Tiffen, Rodney. (1987). [https://doi.org/10.2307/20635447 Quality and Bias in the Australian Press: News Limited, Fairfax, and the Herald and Weekly Times]. Australian Quarterly, 59(3-4), p. 329–329.</ref> However, contrasting to ''The Australian'', the ''AFR'' was still perceived as a newspaper with a strong sense of integrity in reporting facts, despite its editorial style leaning towards conservative business ideals.


⚫
In the wake of the [[1987 stock market crash]], the Australian news media sector was blamed for overlooking corporate corruption and wrongdoings, whilst publishing primarily favourable news articles handed to them from corporate PR teams.<ref name=C2014/> Also during this time, [[The National Times|''The National'' Times]] whIch was Australia's leading financial investigative journalism newspaper, shut down after the stock market crash. So during the 2000s, following the financial market failures and economic downturn of the 1990s, the ''AFR's'' reporting focus steered more towards business investigative journalism, scrutinising big corporations, government power and corruption.<ref name=C2014/> This was viewed as the ''AFR'' making reparations for its lack of scrutiny over the corporate sector in the lead-up to the stock market crash.
⚫
== Reporting stance ==
⚫
During 1975 to 1983, when ''[[The Australian]]'' widely articulated its political stance on [[Conservatism|conservative]] [[liberalism]], it had been noted that the ''AFR'' also promoted [[Neoliberalism|neo-liberalism]] through its news coverage and editorials, exerting influence on the business sphere of Australia and its elitist readership base.<ref>Mcknight, D. (2003). "A World Hungry for a New Philosophy": Rupert Murdoch and the rise of neo-liberalism. Journalism Studies (London, England), 4(3), 347–358. <nowiki>https://doi.org/10.1080/14616700306493</nowiki></ref> The newspaper has also been labelled as one of the propagators of radical liberalism during the 1970s – 1980s, shaping the policy debate surrounding market deregulation at that time.<ref>Mcknight, D. (2003). "A World Hungry for a New Philosophy": Rupert Murdoch and the rise of neo-liberalism. Journalism Studies (London, England), 4(3), 347–358. <nowiki>https://doi.org/10.1080/14616700306493</nowiki></ref> This was in line with the overarching political stance of all Fairfax Holdings owned newspapers, including ''[[The Sydney Morning Herald]]'', which in the 1970s was also right-leaning in its political views.<ref>Tiffen, Rodney. (1987). [https://doi.org/10.2307/20635447 Quality and Bias in the Australian Press: News Limited, Fairfax, and the Herald and Weekly Times]. Australian Quarterly, 59(3-4), p. 329–329.</ref> However, contrasting to ''The Australian'', the ''AFR'' was still perceived as a newspaper with a strong sense of integrity in reporting facts, despite its editorial style leaning towards conservative business ideals.


⚫
One major factor that allowed the ''AFR'' to undertake deep corporate investigations was that it did not need advertising revenue to stay afloat – its cover price was sufficient. On the other hand, all other daily mastheads needed company advertising to stay profitable. This afforded the ''AFR's'' editors the flexibility to pursue and publish news articles that shed a negative light on major companies without needing to be concerned about its financial impacts.
⚫
In the wake of the [[1987 stock market crash]], the Australian news media sector was blamed for overlooking corporate corruption and wrongdoings, whilst publishing primarily favourable news articles handed to them from corporate PR teams.<ref name=C2014/> Also during this time, [[The National Times|''The National'' Times]] who was Australia’s leading financial investigative journalism newspaper, shut down after the stock market crash. So during the 2000s, following the financial market failures and economic downturn of the 1990s, the ''AFR’s'' reporting focus steered more towards business investigative journalism, scrutinising big corporations, government power and corruption.<ref name=C2014/> This was viewed as the ''AFR'' making reparations for its lack of scrutiny over the corporate sector in the lead-up to the stock market crash.


⚫
In the early 2010s, the ''AFR''{{'s}} political stance has been labelled as neutral.<ref name="auto">Boulus, P. (2014). [https://doi.org/10.1080/10361146.2014.948378 The press and issue framing in the Australian mining tax debate] ''Australian Journal of Political Science'', 49(4), 694–710.</ref> During the controversial 2013 tax debate regarding taxes for 'extraordinary' profits generated by mining companies, major mastheads from regions with high mining interests had almost four-fold the number of negative articles compared to positive articles. ''The Australian'', the biggest national daily, had a large number of both positive and negative articles, but had a limited number of neutral articles. Out of all the daily mastheads, the ''AFR'' published the most articles surrounding the tax debate and also the most number of neutral articles.<ref name="auto"/>
⚫
One major factor that allowed the ''AFR'' to undertake deep corporate investigations was that it did not need advertising revenue to stay afloat – its cover price was sufficient. On the other hand, all other daily mastheads needed company advertising to stay profitable. This afforded the ''AFR’s'' editors the flexibility to pursue and publish news articles that shed a negative light on major companies without needing to be concerned about its financial impacts.


=== Notable reporting ===
⚫
In the early 2010s, the ''AFR''’s political stance has been labelled as neutral.<ref>Boulus, P. (2014). The press and issue framing in the Australian mining tax debate. Australian Journal of Political Science, 49(4), 694–710. <nowiki>https://doi.org/10.1080/10361146.2014.948378</nowiki></ref> During the controversial 2013 tax debate regarding taxes for ‘extraordinary’ profits generated by mining companies, major mastheads from regions with high mining interests had almost four-fold the amount of negative articles compared to positive articles. ''The Australian'', the biggest national daily, had a large number of both positive and negative articles, but had a limited amount of neutral articles. Out of all the daily mastheads, the ''AFR'' published the most articles surrounding the tax debate and also the most neutral articles.<ref>Boulus, P. (2014). The press and issue framing in the Australian mining tax debate. Australian Journal of Political Science, 49(4), 694–710. <nowiki>https://doi.org/10.1080/10361146.2014.948378</nowiki></ref>
In November 2023, the AFR joined with the [[International Consortium of Investigative Journalists]], {{ill|Paper trail media|lt=Paper Trail Media|de}} and 69 media partners including [[Distributed Denial of Secrets]] and the [[Organized Crime and Corruption Reporting Project]] (OCCRP) and more than 270 journalists in 55 countries and territories<ref name=":02">{{Cite web |date=2023-11-14 |title=Inside Cyprus Confidential: The data-driven journalism that helped expose an island under Russian influence - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/leaked-data-journalism-methodology/ |url-status=live |archive-url=https://web.archive.org/web/20231130214812/https://www.icij.org/investigations/cyprus-confidential/leaked-data-journalism-methodology/ |archive-date=2023-11-30 |access-date=2023-12-24 |language=en-US}}</ref><ref name=":12">{{Cite web |date=2023-11-14 |title=About the Cyprus Confidential investigation - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/about-cyprus-confidential-investigation/ |url-status=live |archive-url=https://web.archive.org/web/20231121093552/https://www.icij.org/investigations/cyprus-confidential/about-cyprus-confidential-investigation/ |archive-date=2023-11-21 |access-date=2023-12-24 |language=en-US}}</ref> to produce the '[[Cyprus Confidential]]' report on the financial network which supports the regime of [[Vladimir Putin]], mostly with connections to Cyprus, and showed Cyprus to have strong links with high-up figures in the Kremlin, some of whom have been sanctioned.<ref>{{cite news |date=15 November 2023 |title=Cyprus Confidential: Leaked Roman Abramovich documents raise fresh questions for Chelsea FC: ICIJ-led investigation reveals how Mediterranean island ignores Russian atrocities and western sanctions to cash in on Putin's oligarchs |language=en |newspaper=The Irish Times |url=https://www.irishtimes.com/business/financial-services/2023/11/15/cyprus-confidential-leaked-roman-abramovich-documents-raise-fresh-questions-for-chelsea-fc/ |access-date=15 November 2023}}</ref><ref>{{cite web |date=14 November 2023 |title=Cyprus Confidential - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/ |access-date=14 November 2023 |website=www.icij.org}}</ref> Government officials including Cyprus president [[Nikos Christodoulides]]<ref name=":72">{{Cite web |date=2023-11-15 |title=Cypriot president pledges government probe into Cyprus Confidential revelations - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/cypriot-president-pledges-government-probe-into-cyprus-confidential-revelations/ |url-status=live |archive-url=https://web.archive.org/web/20231214203142/https://www.icij.org/investigations/cyprus-confidential/cypriot-president-pledges-government-probe-into-cyprus-confidential-revelations/ |archive-date=2023-12-14 |access-date=2023-12-24 |language=en-US}}</ref> and European lawmakers<ref>{{Cite web |date=2023-11-23 |title=Lawmakers call for EU crackdown after ICIJ’s Cyprus Confidential revelations - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/lawmakers-call-for-eu-crackdown-after-icijs-cyprus-confidential-revelations/ |url-status=live |archive-url=https://web.archive.org/web/20231224114123/https://www.icij.org/investigations/cyprus-confidential/lawmakers-call-for-eu-crackdown-after-icijs-cyprus-confidential-revelations/ |archive-date=2023-12-24 |access-date=2023-12-24 |language=en-US}}</ref> began responding to the investigation's findings in less than 24 hours,<ref name=":7">{{Cite web |date=2023-11-15 |title=Cypriot president pledges government probe into Cyprus Confidential revelations - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/cypriot-president-pledges-government-probe-into-cyprus-confidential-revelations/ |url-status=live |archive-url=https://web.archive.org/web/20231214203142/https://www.icij.org/investigations/cyprus-confidential/cypriot-president-pledges-government-probe-into-cyprus-confidential-revelations/ |archive-date=2023-12-14 |access-date=2023-12-24 |language=en-US}}</ref> calling for reforms and launching probes.<ref name=":5">{{Cite web |date=2023-11-14 |title=Cyprus ignores Russian atrocities, Western sanctions to shield vast wealth of Putin allies - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/cyprus-russia-eu-secrecy-tax-haven/ |url-status=live |archive-url=https://web.archive.org/web/20231214002320/https://www.icij.org/investigations/cyprus-confidential/cyprus-russia-eu-secrecy-tax-haven/ |archive-date=2023-12-14 |access-date=2023-12-24 |language=en-US}}</ref><ref>{{Cite web |last=Solutions |first=BDigital Web |title=Finance Minister perturbed over 'Cyprus Confidential' |url=https://knews.kathimerini.com.cy/en/news/finance-minister-perturbed-over-cyprus-confidential |url-status=live |archive-url=https://web.archive.org/web/20231224114126/https://knews.kathimerini.com.cy/en/news/finance-minister-perturbed-over-cyprus-confidential |archive-date=2023-12-24 |access-date=2023-12-24 |website=knews.com.cy}}</ref>


== See also ==
== See also ==
Line 111: Line 116:
* {{Official website|http://www.afr.com}}
* {{Official website|http://www.afr.com}}
* [http://afrsmartinvestor.com ''Financial Review Smart Investor'' website]
* [http://afrsmartinvestor.com ''Financial Review Smart Investor'' website]
* [http://tv.afr.com ''AFR TV'' website]
* [http://tv.afr.com ''AFR TV'' website]. {{Webarchive|url=https://web.archive.org/web/20131009210149/http://tv.afr.com/ |date=9 October 2013 }}.


{{Lists of Australian people by net worth|state=collapsed}}
{{Lists of Australian people by net worth|state=collapsed}}
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{{Authority control}}
{{Authority control}}


{{DEFAULTSORT:Australian Financial Review}}
[[Category:1951 establishments in Australia]]
[[Category:1951 establishments in Australia]]
[[Category:Australian news websites]]
[[Category:Australian news websites]]
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[[Category:Fairfax Media]]
[[Category:Fairfax Media]]
[[Category:Newspapers published in Sydney]]
[[Category:Newspapers published in Sydney]]
[[Category:Publications established in 1951]]
[[Category:Newspapers established in 1951]]
[[Category:Daily newspapers published in Australia]]
[[Category:Daily newspapers published in Australia]]
[[Category:Nine Entertainment]]
[[Category:Nine Entertainment]]
[[Category:2018 mergers and acquisitions]]
[[Category:2018 mergers and acquisitions]]
[[Category:Websites utilizing paywalls]]

Revision as of 08:47, 26 April 2024

The Australian Financial Review
The Daily Habit of Successful People
TypeDaily newspaper
FormatCompact
Owner(s)Nine Entertainment
Founder(s)John Fairfax & Sons
PublisherNine Publishing
Editor-in-chiefMichael Stutchbury
EditorPaul Bailey
Managing editorJoanne Gray
Founded16 August 1951 (1951-08-16)
LanguageEnglish
HeadquartersSydney, New South Wales
CountryAustralia
CirculationMon–Fri: 47,200
Sat: 56,100[1]
ISSN0404-2018 (print)
1444-9900 (web)
OCLC number1131035760
Websitewww.afr.com

The Australian Financial Review (AFR) is an Australian business-focused, compact daily newspaper covering the current business and economic affairs of Australia and the world. The newspaper is based in Sydney, New South Wales, Australia; owned by Nine Entertainment and has been published continuously since its founding in 1951. The AFR, along with the rest of Fairfax Media (aside from some publications which were sold to Australian Community Media), was sold to Nine Entertainment for more than A$2.3 billion.[2] The AFR is published in tabloid format six times a week, whilst providing 24/7 online coverage through its website. In November 2019, the AFR reached 2.647 million Australians through both print and digital mediums (Mumbrella).[3]

The Australian Financial Review started as a print-only weekly newspaper in 1951, before changing to a bi-weekly in 1961, and a daily newspaper in 1963. The paper now publishes multiple magazines and a supplementary weekend paper, which was launched in 1995. In that same year, the AFR website was also released, which helped to expand its readership base across all media.[4]

History

The Australian Financial Review newspaper started as a weekly publication in 1951, published by John Fairfax & Sons. The paper's main objective was to inform the Australian public on business life and news.[5]

In 1961, the AFR converted to a bi-weekly, and then established itself as the first daily newspaper by 1963.[6] Despite other newspapers claiming the title of the first daily national paper, Maxwell Newton was the editor in charge of taking the Financial Review from a bi-weekly to the first daily national paper.[7] During 1961–62, the AFR's primary competitor was The Australian Financial Times, which was in operation for less than 12 months. In the 1960s and 1970s, the AFR developed a strong readership amongst a specialist business audience due to its neutral stance on domestic government policies.[5] In the 1970s, despite the AFR's reputation as a national business daily, many saw it as the primary competitor for The Australian given its high proportion of readers in the AB demographic.[7]

In 1995, Fairfax launched the Australian Financial Review Magazine in response to its growing readership across a wide-ranging audience.[8] The magazine was published to cover topics other than business including leisure, politics, travel, sports, fashion, and other peripheral topics.[9] In December 2019, the magazine recorded an average issue readership of 326,000.[10] Since its launch in 1995, the AFR Magazine has won the 'Best Newspaper Inserted Magazine' (2013-2019), 'Newspaper Inserted Brand of the Year' (2019) and Mumbrella's 'Special Issue of the Year' (2019).[8]

The magazine's founding was followed by the launch of the AFR's website in the same year, which started as a free online source of financial news.[11]

In 1997, the AFR launched its Weekend Edition which extended the paper's publications into the weekend, with an explicit focus of targeting the growing readership base by providing news articles outside of the traditional finance setting.[8]

In 2016, the AFR launched mobile and iPad compatible applications to provide its digital subscribers more accessibility to its news platform. This was aimed at allowing cross-platform accessibility without having to download two separate applications across different device platforms.[12] The application carries similar features to the website including sections such as: Street Talk and Rear Window. The product management team decided to revamp the app due to the wide uptake of smartphones in the Australian market, and to improve their user-interface experience. The UTS Business School was the launch partner for the app, providing logistical advice on the app's delivery.[13] The app's subscription price is included in the 'all premium digital subscription' bundle.

The Australian Financial Review has grown its product offerings since its beginnings as a finance newsroom. It has consistently been well received by the journalism sector as one of the most high-quality newsrooms across Australia.[14] Since the 2000s, the AFR has launched BOSS (magazine for business leadership and strategy) and the Sophisticated Traveller magazine. In 2019, the Australian Financial Review recorded double-digit subscriber growth, as it continued to market its newspaper as the driver of Australian business-people's success and ambitions.[3] In 2020, due to the newspaper company's expansion efforts across different readership bases, the AFR reached 2.647m Australians a month.[3]

Evolution of Paywall System

The AFR first introduced its paywall in 2006, charging online users to view its articles – a payment model that had not yet been utilised by any other Australian newspaper firm.[15] The switch to a paywall was done because the newspaper company thought it could further monetise its niche business audience who could afford it.[16] Following this change, the AFR continued to adjust the pricing of its subscription due to low subscriber growth.[17]

In 2011, it newly introduced a freemium paywall in which only a small portion of articles were free. It has been noted that the AFR's website locks approximately 86% of its online content behind a paywall, higher than its closest competitor the National Business Review.[17] This was aimed at increasing its digital readership which in 2011 amounted to 6,000 subscribers.[18] In addition, it was later determined that the AFR's failures in attracting online subscribers was due to its paywall being too expensive. Its 2012 price of $59 AUD was notably higher than other international mastheads, including The New York Times which was priced at $37.84 AUD.[17] As a result, the AFR has since lowered its digital subscription price to $29.50 AUD.

Nine Entertainment merger

The mega-cap deal that saw Nine Entertainment and Fairfax Media merge was inspired by initial chats between Hugh Marks (Nine CEO) and Nick Falloon (Fairfax chairman).[19] The pair discussed how the two companies' assets could synergise, improve efficiencies, save costs and increase scale. During the lead up to the merger, there were a few roadblocks. In 2016, the proposed merger was not feasible due to government legislation surrounding media ownership.[20] In addition, Nine Entertainment's board believed that its share price was undervalued and thus wanted to delay any acquisition until its fair value had been reflected. Amongst the delays in talks between the two parties, Fairfax had other suitors including private equity groups TPG Capital and Hellman & Friedman, which ended up walking away from the table.[21]

In 2018, Nine Entertainment's board re-entered into talks with Fairfax of a potential merger after its share price had jumped following an upbeat earnings report.[22] The proposed structure of the takeover was 0.3627 Nine shares plus $0.025 AUD per Fairfax share, composing a cash plus scrip deal. This represented a 21.9% takeover premium to Fairfax's last close, and valued Fairfax at $2313.8mm AUD.[2] Once the deal was made, it was reported that Fairfax's portfolio newspapers, including the AFR, would maintain independence from Nine's media groups. As part of the proposed deal, Hugh Marks took over corporate control of the combined group with Fairfax CEO, Greg Hywood, stepping down.

The combined entity in 2018 was forecasted to have approximately 6,000 employees (inclusive of all the duplicate roles made redundant), major resources across all media types including print, TV, radio and online; and $3 billion in revenue.[19]

The proposed merger was also put under review by the Australian Competition & Consumer Commission (ACCC) on antitrust measures.[23] It was announced in November 2018 that the ACCC would not oppose the merger. The investigation looked at the merger's impact on the online news industry's competition and involved contacting numerous stakeholders. It was noted that the merger would most likely reduce competition in the domestic media market, but that it was not in breach of the Competition and Consumer Act. The main point of divergence between the two business' assets was that Nine Entertainment's news assets provided mass market news coverage whereas Fairfax Media's news assets provided more specialist coverage.[24]

Despite the ACCC's ruling, there were a few stakeholders who voiced their concerns about the merger's impact on the Australian media industry's competitive landscape.[23] Union groups such as the Media Entertainment and Arts Alliance, and the Journalists' union warned the ACCC that the mega-cap takeover would threaten the editorial independence of Fairfax Media's portfolio newspaper companies. Former prime minister Paul Keating also voiced his criticisms labelling the ACCC's decision as "appalling", considering that a more concentrated media industry would reduce coverage of city-specific political issues.[25]

Features and operations

Newspaper Sections

Within the AFR's daily newspaper, regularly scheduled sections include:[26]

  • World – news and analysis on global companies and the international business environment.
  • Chanticleer – the long-running business opinion column (begun July 1974) that looks into individual companies in-depth, analysing their operations, management and board of directors.[27]
  • Accounting & Consulting – Targeted at senior executives and management, this section lays out lateral personnel movements within the finance sector, recent company news, and key participants in the industry
  • Education – provides information regarding professional development, the education sector, and news regarding company training
  • Companies & Markets – this section features in-depth analysis of the Australian business environment including equity markets, debt markets and the M&A industry
  • Legal Affairs – targeted at lawyers, this section provides coverage of the legal industry: its trends and news about the top law firms in Australia
  • Property – this section provides analysis of the Australian property market: house prices, commercial properties, developers, REITS, and others. Each major capital city has its own journalism team covering the respective property markets.
  • Life & Leisure – this two-day weekly insert focuses on more leisurely topics including fashion, travel, social media, jewellery, etc.

Products and Operations

Across the AFR group, the team does not only publish newspapers. Its range of operations is listed below:

  • The Australian Financial Review daily newspaper, founded in 1951, the paper aims to provide information regarding the Australian business landscape.
  • The Weekend Edition, delivered on Saturday, covers important business topics as well as general news and leisure-focused topics.
  • Afr.com, the AFR's news website, provides online access to a news database with topics including markets, politics, policy, property, and others.[28]
  • Sophisticated Traveller – Since 2004, this quarterly magazine has been targeting high net worth individuals, covering content regarding luxury travel.[29]
  • Australian Financial Review Magazine – Monthly inserted magazine providing content on high-profile business news, politics, fashion and luxury. The magazine was launched in 1995.[9]
  • BOSS - This magazine aims to deliver content to Australia's business seniors about company management, leadership and influential trends.
  • LUXURY – A quarterly magazine covering trends in the luxury industry including watches, jewellery, fashion, and others.

Financial Review Rich List

The Financial Review Rich List aims to compile an annual ranking of the wealthiest Australian citizens. The list was first published in the BRW Magazine in 1984.[30] Since its beginnings, the compilation of the list and its publishing have been taken over by the AFR, now being published annually in the Australian Financial Review Magazine and on the afr.com. Along with the names of the richest people, the list explicates the person or family's net worth and provides a short summary on the business activities and sector they are engaged in. The valuations are conducted by utilising a mix of publicly available information and private consultations. In 2019, the cut-off for making the Rich List was $472m AUD. In 2020, the cut-off was raised to $540m AUD.[31]

Reporting

Reporting stance

During 1975 to 1983, when The Australian widely articulated its political stance on conservative liberalism, it had been noted that the AFR also promoted neo-liberalism through its news coverage and editorials, exerting influence on the business sphere of Australia and its elitist readership base.[32] The newspaper has also been labelled as one of the propagators of radical liberalism during the 1970s – 1980s, shaping the policy debate surrounding market deregulation at that time.[32] This was in line with the overarching political stance of all Fairfax Holdings owned newspapers, including The Sydney Morning Herald, which in the 1970s was also right-leaning in its political views.[33] However, contrasting to The Australian, the AFR was still perceived as a newspaper with a strong sense of integrity in reporting facts, despite its editorial style leaning towards conservative business ideals.

In the wake of the 1987 stock market crash, the Australian news media sector was blamed for overlooking corporate corruption and wrongdoings, whilst publishing primarily favourable news articles handed to them from corporate PR teams.[6] Also during this time, The National Times whIch was Australia's leading financial investigative journalism newspaper, shut down after the stock market crash. So during the 2000s, following the financial market failures and economic downturn of the 1990s, the AFR's reporting focus steered more towards business investigative journalism, scrutinising big corporations, government power and corruption.[6] This was viewed as the AFR making reparations for its lack of scrutiny over the corporate sector in the lead-up to the stock market crash.

One major factor that allowed the AFR to undertake deep corporate investigations was that it did not need advertising revenue to stay afloat – its cover price was sufficient. On the other hand, all other daily mastheads needed company advertising to stay profitable. This afforded the AFR's editors the flexibility to pursue and publish news articles that shed a negative light on major companies without needing to be concerned about its financial impacts.

In the early 2010s, the AFR's political stance has been labelled as neutral.[34] During the controversial 2013 tax debate regarding taxes for 'extraordinary' profits generated by mining companies, major mastheads from regions with high mining interests had almost four-fold the number of negative articles compared to positive articles. The Australian, the biggest national daily, had a large number of both positive and negative articles, but had a limited number of neutral articles. Out of all the daily mastheads, the AFR published the most articles surrounding the tax debate and also the most number of neutral articles.[34]

Notable reporting

In November 2023, the AFR joined with the International Consortium of Investigative Journalists, Paper Trail Media [de] and 69 media partners including Distributed Denial of Secrets and the Organized Crime and Corruption Reporting Project (OCCRP) and more than 270 journalists in 55 countries and territories[35][36] to produce the 'Cyprus Confidential' report on the financial network which supports the regime of Vladimir Putin, mostly with connections to Cyprus, and showed Cyprus to have strong links with high-up figures in the Kremlin, some of whom have been sanctioned.[37][38] Government officials including Cyprus president Nikos Christodoulides[39] and European lawmakers[40] began responding to the investigation's findings in less than 24 hours,[41] calling for reforms and launching probes.[42][43]

See also

References

  1. ^ "ABCs: Weekend nationals grow circulation as metro weekly newspapers continue to decline – Mumbrella". Mumbrella. 17 February 2017. Retrieved 25 May 2017.
  2. ^ a b "Fairfax Media Limited Nine Entertainment Co. Holdings Ltd Merger". Merger Market. Retrieved 1 February 2023. (subscription required)
  3. ^ a b c SMH, AFR and The Age all report audience growth in November Mumbrella 2020
  4. ^ AFR website
  5. ^ a b Doyle H. (2001). "Australian Financial Review". In The Oxford Companion to Australian History. Oxford University Press.
  6. ^ a b c Carson, A. (2014). "The political economy of the print media and the decline of corporate investigative journalism in Australia". Australian Journal of Political Science, 49(4), pp.726–742.
  7. ^ a b Goot, M. (2015, November). Fifty years of the Australian, Media International Australia incorporating Culture and Policy, (157), 5+.
  8. ^ a b c Nine for Brands (2020). "The Australian Financial Review Magazine" (PDF). Retrieved 19 January 2023.
  9. ^ a b "Australian Financial Review Magazine marks ten years of its watch lift out". Mumbrella. 2017. Retrieved 19 January 2023.
  10. ^ "First full year since Nine purchase of Fairfax sees audience increases for SMH, The Age and Australian Financial Review". Roy Morgan. 6 February 2020. Retrieved 23 February 2021.
  11. ^ Muck Rack. "Australian Financial Review'". Retrieved 19 January 2023.
  12. ^ Samios, Z. (2017). "NEWS: The AFR launches news app with cross device accessibility". Retrieved 19 January 2023.
  13. ^ The Misfits Media Company (2016). "The Australian Financial Review Launched Universal App". Retrieved 19 January 2023.
  14. ^ Henningham, J. (1996). "Journalists' perceptions of newspaper quality". Australian Journalism Review. 18 (1): 13–19.
  15. ^ Jackson, S (30 November 2011). "Australian Financial Review lowers its paywall". The Australian. Retrieved 19 January 2023.
  16. ^ Young, S. (2011). "The elite public sphere". How Australia Decides: Election Reporting and the Media. Cambridge: Cambridge University Press. pp. 42–60. doi:10.1017/CBO9780511984778.004. ISBN 9780521147071.
  17. ^ a b c Carson, A. (2015). "Behind the newspaper paywall – lessons in charging for online content: a comparative analysis of why Australian newspapers are stuck in the purgatorial space between digital and print". Media, Culture & Society. 37 (7): 1022–1041. doi:10.1177/0163443715591669. S2CID 145226933.
  18. ^ Burrowes, T. (2011). "A decade on, AFR has 6711 subscribers to its paywall". Mumbrella. Retrieved 19 January 2023.
  19. ^ a b McDuling, J. (7 December 2018). What does the Nine-Fairfax merger mean? Sydney Morning Herald.
  20. ^ Department of Intrastructure, Transport, Regional Development and Communications. (n.d.). Updating Australia's media laws. Canberra, Australia: Author.
  21. ^ Dunckley, M. (7 May 2017). Fairfax Media confirms unsolicited TPG approach Sydney Morning Herald.
  22. ^ Harrison, T. (2018). Nine Entertainment Co Holdings Ltd share price is up 15% on profit growth of 55% Motley Fool
  23. ^ a b Duke, J. (8 November 2018). Competition regulator gives green light to Nine-Fairfax merger Sydney Morning Herald
  24. ^ ACCC will not oppose Nine-Fairfax merger Australia Competition & Consumer Commission. (2018).
  25. ^ Ex-PM Paul Keating calls Nine, Fairfax merger 'appalling' SBS News 8 November 2018
  26. ^ Nine for Brands Financial Review. 2020
  27. ^ Boyd, Tony (5 August 2021). "With gravitas and humour, Chanticleer tells the story behind the news". Australian Financial Review. Nine Entertainment. Retrieved 9 July 2022. The country's pre-eminent business column was born during a long lunch in Melbourne in the mid-1970s.
  28. ^ Myllylahti, Merja. (2017). "What Content is Worth Locking Behind a Paywall? Digital news commodification in leading Australasian financial newspapers". Digital Journalism, 5(4), 460–471, (Paywall site)
  29. ^ 'Oh So Frenchy' - Sophisticated Traveller 'Insider' Edition Revealed (15 February 2019). B&T Magazine.
  30. ^ Stensholt, J., Tadros, E. (26 May 2017). Rich List 2017: the 15 names on every list since 1984. Australian Financial Review. Retrieved from [1]
  31. ^ Bailey, M., Sprague, J. (30 October 2020). The full list: Australia's wealthiest 200 revealed. Australian Financial Review. >
  32. ^ a b Mcknight, D. (2003). "A World Hungry for a New Philosophy": Rupert Murdoch and the rise of neo-liberalism Journalism Studies (London, England), 4(3), 347–358
  33. ^ Tiffen, Rodney. (1987). Quality and Bias in the Australian Press: News Limited, Fairfax, and the Herald and Weekly Times. Australian Quarterly, 59(3-4), p. 329–329.
  34. ^ a b Boulus, P. (2014). The press and issue framing in the Australian mining tax debate Australian Journal of Political Science, 49(4), 694–710.
  35. ^ "Inside Cyprus Confidential: The data-driven journalism that helped expose an island under Russian influence - ICIJ". 14 November 2023. Archived from the original on 30 November 2023. Retrieved 24 December 2023.
  36. ^ "About the Cyprus Confidential investigation - ICIJ". 14 November 2023. Archived from the original on 21 November 2023. Retrieved 24 December 2023.
  37. ^ "Cyprus Confidential: Leaked Roman Abramovich documents raise fresh questions for Chelsea FC: ICIJ-led investigation reveals how Mediterranean island ignores Russian atrocities and western sanctions to cash in on Putin's oligarchs". The Irish Times. 15 November 2023. Retrieved 15 November 2023.
  38. ^ "Cyprus Confidential - ICIJ". www.icij.org. 14 November 2023. Retrieved 14 November 2023.
  39. ^ "Cypriot president pledges government probe into Cyprus Confidential revelations - ICIJ". 15 November 2023. Archived from the original on 14 December 2023. Retrieved 24 December 2023.
  40. ^ "Lawmakers call for EU crackdown after ICIJ's Cyprus Confidential revelations - ICIJ". 23 November 2023. Archived from the original on 24 December 2023. Retrieved 24 December 2023.
  41. ^ "Cypriot president pledges government probe into Cyprus Confidential revelations - ICIJ". 15 November 2023. Archived from the original on 14 December 2023. Retrieved 24 December 2023.
  42. ^ "Cyprus ignores Russian atrocities, Western sanctions to shield vast wealth of Putin allies - ICIJ". 14 November 2023. Archived from the original on 14 December 2023. Retrieved 24 December 2023.
  43. ^ Solutions, BDigital Web. "Finance Minister perturbed over 'Cyprus Confidential'". knews.com.cy. Archived from the original on 24 December 2023. Retrieved 24 December 2023.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Australian_Financial_Review&oldid=1220850283"