Difference between revisions of "User:RahalMccall69"

Revision as of 06:15, 14 August 2014

@@@ General news website The New Daily has been forced to raise a further $3 million in capital, less than six months after launching.

The site launched late last year with $3 million in funding from AustralianSuper, United Super, the trustee of construction industry fund Cbus and Industry Super Holdings, a company that owns various industry fund entities.
In February, it attracted a further $1 million each from health fund Hesta, timber fund First Super, and LUCRF Super, with an option to invest a further $3 million down the track.
But some of the site s foundation investors did not take part in the capital raising, and their ownership has been diluted.
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A spokesperson for AustralianSuper confirmed that the super fund remained an investor, but had not contributed any further funding in February.
Sources <a href=http://www.saclouisvuittonhomme.com/bagages-louis-vuitton-48>Bagages Louis Vuitton</a> said it was unlikely that either AustralianSuper or Cbus would contribute any further member funds to the start-up. A source at Cbus also confirmed the super fund was re-examining its investment in The New Daily after less than 12 months.
Fairfax Media understands some super funds are unhappy with the lack of personal finance content and original content, and its readership levels.
The New Daily has been marketed to the more than five million Australians who are members of not-for-profit, or industry, funds. But Nielsen figures show the site had a unique audience of 124,000 in June, and 106,000 in May, putting it just outside the <a href=http://www.saclouisvuittonhomme.com/portefeuille-louis-vuitton-50>Portefeuille Louis Vuitton</a> top 100 news sites.
When AustralianSuper announced its investment in The New Daily, it stated: AustralianSuper is supporting The New Daily and offering it to all members as a quality news service that provides a wide range of content with regular features on personal finance topics.
The New Daily is produced by Motion Publishing, whose directors include Crikey owner Eric Beecher and former Herald Sun and The Age editor Bruce Guthrie. Mr Beecher did not respond to calls.
Its directors are industry funds stalwart Garry Weaven, AustralianSuper director Alison Terry, Media Super chairman Gerard Noonan and former Fairfax executive Glenn Thompson.
Mr Weaven told last year: I'm the first one to understand that it is somewhat speculative. The market is moving all the time. But, on the numbers we've done, it can be justified as a commercial investment.
Last year, at a Senate Estimates Committee hearing, Nationals Senator John Williams questioned the investment of three large super funds in The New Daily. Specifically, Senator Williams raised concerns about the use of member funds to bankroll a website, and ethical conflicts.
ASIC chairman Greg Medcraft ordered an investigation and reported that currently all advertisements are for Cbus, AustralianSuper and ME Bank , but there was no bias towards those advertisers in copy.
<a href=http://www.saclouisvuittonhomme.com/court-portefeuilles-74>Court Portefeuilles</a> Advertisers at The New Daily now include realestateview.com.au, a real estate advertising site.
Scoops have included former Melbourne Storm boss Brian Waldron apologising for salary-cap breaches at the club, and an interview of controversial Victorian MP Geoff Shaw by the former footballer Jason Akermanis.

Difference between revisions of "User:RahalMccall69"

Revision as of 06:15, 14 August 2014

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+General news website The New Daily&nbsp;has been forced to raise a further $3 million in capital, less than six months after launching.
+ The site launched late last year with $3 million in funding from AustralianSuper, United Super, the trustee of construction industry fund Cbus and Industry Super Holdings, a company that owns various industry fund entities.
+ In February, it attracted a further $1 million each from health fund Hesta, timber fund First Super, and LUCRF Super, with an option to invest a further $3 million down the track.
+ But some of the site s foundation investors did not take part in the capital raising, and their ownership has been diluted.
+ Advertisement
+ A spokesperson for AustralianSuper confirmed that the super fund remained an investor, but had not contributed any further funding in February.
+ Sources <a href=http://www.saclouisvuittonhomme.com/bagages-louis-vuitton-48>Bagages Louis Vuitton</a> said it was unlikely that either AustralianSuper or Cbus would contribute any further member funds to the start-up. A source at Cbus also confirmed the super fund was re-examining its investment in&nbsp;The New Daily&nbsp;after less than 12 months.
+ Fairfax Media understands some super funds are unhappy with the lack of personal finance content and original content, and its readership levels.
+ The New Daily&nbsp;has been marketed to the more than five million Australians who are members of not-for-profit, or industry, funds. But Nielsen figures show the site had a unique audience of 124,000 in June, and 106,000 in May, putting it just outside the <a href=http://www.saclouisvuittonhomme.com/portefeuille-louis-vuitton-50>Portefeuille Louis Vuitton</a> top 100 news sites.
+ When AustralianSuper announced its investment in&nbsp;The New Daily, it stated: AustralianSuper is supporting The New Daily&nbsp;and offering it to all members as a quality news service that provides a wide range of content with regular features on personal finance topics.
+ The New Daily&nbsp;is produced by Motion Publishing, whose directors include&nbsp;Crikey&nbsp;owner Eric Beecher and former&nbsp;Herald Sun&nbsp;and&nbsp;The Age&nbsp;editor Bruce Guthrie.&nbsp;Mr Beecher did not respond to calls. &nbsp;
+ Its directors are industry funds stalwart Garry Weaven, AustralianSuper director Alison Terry, Media Super chairman Gerard Noonan and former Fairfax executive Glenn Thompson.
+ Mr Weaven told last year: I'm the first one to understand that it is somewhat speculative. The market is moving all the time. But, on the numbers we've done, it can be justified as a commercial investment.
+ Last year, at a Senate Estimates Committee hearing, Nationals Senator John Williams questioned the investment of three large super funds in&nbsp;The New Daily. Specifically, Senator Williams raised concerns about the use of member funds to bankroll a website, and ethical conflicts.
+ ASIC chairman Greg Medcraft ordered an investigation and reported that currently all advertisements are for Cbus, AustralianSuper and ME Bank , but there was no bias towards those advertisers in copy.
+ <a href=http://www.saclouisvuittonhomme.com/court-portefeuilles-74>Court Portefeuilles</a> Advertisers at&nbsp;The New Daily&nbsp;now include&nbsp;realestateview.com.au, a real estate advertising site.
+ Scoops have included former Melbourne Storm boss Brian Waldron apologising for salary-cap breaches at the club, and an interview of controversial Victorian MP Geoff Shaw by the former footballer Jason Akermanis.