Former Foxtel, News Corp boss Peter Tonagh on legacy media’s challenged future, why he’s backing niche players and the merits of “soft socialism” in business
Former News Corp and Foxtel CEO Peter Tonagh is a man on a mission to connect start-ups with big brands through marketplaces via media investment fund ACT. Success guarantees further fragmentation of media – and he thinks the new niche players will ultimately usurp their heavier, broader rivals. Meanwhile, Covid has brought “soft socialism” to the fore. Organisations that hold to “first principles” and contribute meaningfully to society will do much better than those who do not, says Tonagh. As will those with the cultural integrity to survive the permanent shifts – but not end – to office hubs.
Read Paul McIntyre’s Deep Dive article (6 min. read):