David Gyngell has vowed to prove James Packer wrong.
The Nine Network boss reckons there is still money to be made in free-to-air television, and has promised to tap his experience from another Packer, Kerry, to make his point.
The close friend of James Packer told advertisers in Sydney yesterday that the billionaire's decision this week to cut his family's ties to the network, which spanned more than 50 years, was not going to spell any change for Nine, now on a comeback in TV ratings this year.
The tradition of the late Kerry Packer - who was so passionate about the network that he called producers personally to change what was on air - was set to continue under his tenure, he said.
"I loved Kerry Packer, what he did for me and how much I learnt from him," Mr Gyngell said. "He was truly extraordinary, so hopefully I picked up his attitude towards Channel Nine, and I do love Channel Nine and what we do with Channel Nine.
"While on my watch, we won't be cutting our costs to damage our content."
The assurances came three days after James Packer cut his funding and severed links to his father's media empire by declaring that he and his top lieutenant, John Alexander, would step down from the board of PBL Media, the private equity company that runs Nine and ACP Magazines.
The business, which is creaking under a $4.2 billion debt, is now in the hands of the buy-out firm CVC Asia Pacific.
Mr Gyngell said Mr Packer had made up his mind about the network last year, when he reduced Consolidated Media Holdings' stake in PBL Media to 25 per cent, handing over economic control of Nine and ACP Magazines.
"The day that James and his family gave up control of Channel Nine was the day that he made a decision on his position on media.
"He's got his view, and I'm looking forward to proving him wrong."
(Credit: The Sydney Morning Herald)
Media Man Australia Profiles
David Gyngell
James Packer
Network Nine
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