Fairfax announces it will merge with (read acquire) 2GB/Alan Jones/Macquarie Radio. Stand by for the "improvements".
University business schools will be writing up the case studies out of this merger for years.
There might be two groups of people less likely to get on in business than Singo/Tate/Jones/2GB and Fairfax - but they'd take a bit of finding.
Singo's done a great deal, so has Alan Jones (that is it's a great deal for Singo and Alan).
But poor fella 2GB when the Fairfax gurus start getting their PAs to "diarise a familiarisation visit" to help Alan and Ben improve and modernise their message.
Singo got it right first time when he said this about Fairfax leadership on 25 February 2014.
Sydney radio tsar John Singleton unleashed yesterday on his one-time would-be business partners at Fairfax Media, calling its chairman a “pompous pr..k” and the CEO an “idiot”.
Here's a summary of Singo's critique of the Fairfax leadership team. I think the reasonable man, fully informed about the wonders of Hywood et al would be left with no alternative but to agree.
Singleton suggested Fairfax chairman Roger Corbett should be president of the “Avoca bowling club” and claimed CEO Greg Hywood was a “third-rater” who had phoned him “almost in tears” over the money in consultancy fees down the drain when the talks fell over.
Grab a drink and enjoy some afternoon Alan and Singo, very much on form here. Then have a read of the Fairfax announcement to the ASX below.
Rule number one in the Mergers and Acquisitions caper is that there are no mergers, only acquisitions. You are either acquired or the acquirers - someone is always on top, the shareholding is a pretty good clue. In this case the genii at Fairfax get to prod and poke 2GB in order to synergise the rationalisation of the continuous improvement re-engineering focus group consultancy initiative or something. And Singo and Alan will be nicely cashed up and laughing all the way to the Avoca Bowls Club for lunch with the Chairman.