Packer: landmarks
Landmarks
This chronology is indicative only.
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It covers -
- antecedents
- beginnings (1933)
- into television (1956)
- out of newspapers (1972)
- the Bond deal (1987)
- ACP floated (1992)
- Hoyts takeover (1996)
- Challenger and Burswood (2003)
Context is provided by the broader communications and media timeline on this site.
Antecedents
1919 Sydney Smiths Weekly launched by James Joynton Smith, with Robert Packer as Manager
1921 Packer given one-third share of Smiths Weekly
1923 Frank Packer (Kerry's dad) becomes cadet on Joynton Smith's Sydney Daily Guardian, managed by father Robert
1931 Robert Packer becomes General Manager of Associated Newspapers
1932 Frank Packer and former federal Treasurer Ted Theodore form Sydney Newspapers Ltd
1933 Robert Packer leaves Associated Newspapers
Beginnings
1933 Australian Women's Weekly launched
1936 Sydney Newspapers acquires Daily Telegraph from Denison's Associated Newspapers, forming Consolidated Press Ltd - later Australian Consolidated Press (ACP)
1939 Sunday Telegraph launched
1954 Weekend Telegraph launched
1958 Observer weekly current affairs magazine launched
Into television
1956 Packers get Sydney television licence (TCN 9)
1956 Fairfax buys Woman's Day
1957 Australian Consolidated Press (ACP) formed when Packers buy Theodore stake
1960 Fairfax and ACP establish Suburban Publications
1960 Bulletin magazine bought for £400,000 and merged with Observer
1960 Packers buy Maitland Mercury
1960 Nine television network established when Packers buy 62% of Melbourne station GTV-9 from Pye for £3.76m
1962 Frank Packer makes unsuccessful bid for America's Cup
1964-76 Robert Clyde Packer (Kerry's elder brother) is a member of NSW parliament
1965 STW-9 Perth launched
Out of newspapers
1972 Packers sell mastheads of the Daily and Sunday Telegraphs to Murdoch for $15 million
1972 launch Cleo magazine
1974 Kerry becomes chairperson on his father's death
1975 Packers buy broadcast rights to Australian Open golf event
1976 Clyde sells stake in Packer group to younger brother Kerry for about $4 million
1977 starts World Series Cricket
1983 privatises Consolidated Press, subsequently floated as CPH
1983 sells selected leisure and special interest magazines to Hannan family
1984 takes 10% stake in UK station TV-AM (subsequently increased to 24% and sold)
1986 buys US-based Valassis shopping coupon group, competing with Murdoch's Activmedia
The Bond deal
1987 sells Nine network to Alan Bond for around $1bn
1988 buys Fairfax Magazines
1988 pays £50m for a 3.5% stake in UK fibres and chemicals group Courtaulds (subsequently sold)
1988 buys Westralia Square development site in Perth for $270m
1989 CPH pays $130m for chemical manufacturing division of Monsanto Australia, renamed Chemplex
1989 makes multi-billion dollar bid for UK tobacco, packaging and insurance conglomerate BAT Industries Plc
1989 sells part of Westralia Square site for $55m
1989-92 employs Al 'Chainsaw' Dunlap to slash staff
1989 buys controlling stake in ANI engineering group
1990 regains control of Nine network Sydney, Melbourne and Brisbane stations for around $250m
1991 sells ANI for reported $180m profit
1991 unsuccessful bid to buy Fairfax
1992 sells 51% of Valassis for US$370m
1992 CPH sells Offset Alpine Printing
1992 buys 9.7% of Westpac bank (subsequently sold)
ACP floated
1992 ACP floated in deal valued at $1.2 billion
1993 CPH sells 50% of Chemplex to Huntsman Chemical Corporation of the USA for US$70m
1993 CPH participates in Huntsman's US$1bn purchase of US-based Texaco Chemical
1993 launches She magazine as partnership with Hearst
1994 Packer forms Publishing & Broadcasting Ltd (PBL) through merger of ACP and Channel 9 Sydney, Melbourne, Brisbane, Darwin
1996 James Packer becomes managing director of PBL
1997 sells remaining Valassis stake
1997 buys stake in Matrix Telecommunications (later renamed Easycall)
1998 gains 25% stake in Foxtel
1998 takes 12% stake in Challenger International, later increased to 19%
1998 Nine Network sells stake in WTN video agency to Associated Press (AP)
1999 takes over Crown casino
1999 buys Consolidated Meat Group
Hoysts takeover
1999 gains control of Hoyts cinema group for around $620m
1999 Hoyts sells cinemas in Poland
1999 floats ecorp
1999 takes stake in One.Tel
2000 Hoyts sells cinemas in UK
2000 CPH buys 10% stake in Himachal Futuristic telecommunications for $396m
2000 forms $250m venture capital fund KVP Ventures with Indian partners
2001 One.Tel goes bust
2001 CPH sells 14.9% stake in Fairfax
2001 eCorp partnership with Charles Schwab dissolved
2002 She magazine closed
Challenger and Burswood
2003 Challenger International and CPH Investments announce merger
2003 major Hoyts America operations sold to Regal Entertainment
2003 eCorp privatised by PBL
2003 Packer sells Westralia Square site for est $20m (overall $200m loss)
2004 gains control of Burswood casino after $686m bid
2004 PBL forms joint venture with Betfair online gaming group
2004 sale of Wizard stake to GE
2004 CPH sells Hoyts to PBL (taking interest in PBL to 39.1%) and WAN for aggregate $520m
2006 PBL buys further 2.7% of seek.com.au for $35.2m, taking stake to 27.1%
2006 increases stake in carsales.com.au to 43.9%
2006 PBL announces move to acquire CPH 46% stake in Aspers (UK joint with Damian Aspinall) for $100m
2006 PBL transfers US$900m Macau casino/resort licence to joint venture with Melco International
2006 announces plan to transfer media operations (ACP Magazines, Nine Network (inc stake in Sky News), 50% stake in ninemsn and stake in carsales.com.au) to PBL Media - new joint venture between PBL and CVC Asia Pacific - with PBL receiving net cash proceeds of $4.54bn