Why we sold AIBM

When I started Eureka Report seven years ago it was with the aim of building an independent voice for Australian investors – to both defend and inform them.

When Robert Gottliebsen, Steve Barthomoleusz and I started Business Spectator four and a half years ago it was with a similar aim for the nation's business people. We called our company Australian Independent Business Media.

Today AIBM is joining the News Corporation stable for the simple reason that this is the best way for us to continue our mission.

We remain passionately independent of commercial interests, but being part of a global media company will give us the support and resources to grow the business and better serve all of our customers, both readers and advertisers.

More than that: through many months of negotiation and discussion, we've come to a clear view that, within Australia and probably globally, News Corporation has the best understanding of the changes taking place in the media and the most coherent strategy for dealing with them.

Bob, Steve and I, as well as all of the senior managers in AIBM, have signed up to News Ltd on long-term contracts.

We are excited about our new future. AIBM will remain independent and its existing culture will be preserved. Business Spectator, Eureka Report, Climate Spectator and Technology Spectator will continue to provide their audiences with the best analysis and commentary on business and investment issues in Australia.

And most importantly, the business will grow – we'll be launching new Spectators and new additions to Eureka Report to better serve Australian readers.

Finally, I want to thank you, our readers, for your support over the past four and a half years. We love our close and vigorous relationship with you, and we look forward to continuing it for many years to come.



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