What's New November 12, 2021

Big media companies received about $50 million in Jobkeeper payments

The three biggest listed radio/tv companies in Australia received almost $50 million in Jobkeeper payments in the past two years.

The money was used to keep staff employed during the pandemic.

Listed companies are required to publicly declare the amount of Jobkeeper they were given as part of the Government’s economy wide support for companies to compensate for the shutdown of the economy during forced lockdowns.

ARN’s parent company HT&E revealed:

In Financial Year 1 (2020) there were 545 HT&E staff receiving Job Keeper, worth $10.68 million.
In FY 2 (2021) the company did not claim any job keeper payments.

HT&E has not voluntarily returned any of the payments.

Nine Entertainment Limited, parent company of Nine Radio notified:

In FY 1 (2020) Nine received $6.73 million for 753 staff.
In FY2 (2021) Nine received $8.24 million for 784 staff.

Nine has voluntarily returned about $8.8 milli0n (FY1 $963,000, FY2 $7,844,700).

Southern Cross Media Group declared:

In FY 1 (2020) 1769 SCA staff received $15.85 million.
In FY2 (2021) 1749 staff received $31.57 million.

SCA has not voluntarily returned any of the payments.

The information relates to the financial years ended 31/12/2020 (FY 1) and 31/12/2021 (FY 2), and has already been progressively disclosed in company accounts over the past two years.