Format | Online newspaper |
---|---|
Owner(s) | Industry Super Holdings |
Editor | Neil Frankland |
Founded | 2013 |
Headquarters | Melbourne, Victoria, Australia |
Website | thenewdaily |
The New Daily is an online Australian newspaper founded in 2013, [1] [2] owned by Solstice Media. [3] The founding editor, Bruce Guthrie, is as of June 2019 [update] the editorial director. [4]
The paper's former political editor, Samantha Maiden, revealed that former prime minister Scott Morrison left for a holiday to Hawaii during the middle of catastrophic bushfires, a story that was later awarded the Walkley Award for Scoop of the Year for 2019. [5]
Its flagship columnists include Paul Bongiorno, Alan Kohler, and Michael Pascoe. It recorded a monthly unique audience greater than The Australian newspaper according to Nielsen digital news rankings for February 2022. [6]
The venture has been controversial due to its ownership by non-profit superannuation funds, in regards to both the publication's commercial nature and its editorial independence. [7] The paper says it has an independence charter which lays out a formal separation between news content and ownership. [8]
The paper was started by AustralianSuper, Cbus and Industry Super Holdings in 2013. [9] In 2016, it became wholly owned by Industry Super Holdings. [9] [7] [10] The initial funding and investment of the entity was paid for using funds from those organisations, with justifications made by super-fund management that investing in the paper would be a worthwhile activity for super-fund members for a number of reasons. [11]
When the paper was initially launched, its owner AustralianSuper planned to force subscriptions from its members to the paper, unless those superfund members opted-out from the subscription within a one month period. [12] The move was controversial, and criticised by the AFR. [12] Following criticisms from regulators such as APRA, the plans were scrapped. [11]
In 2017, The New Daily generated A$13,647 profit based on revenue of A$280,125 from advertising in addition to capital investment from its owner. [7] Their total losses for 2017 were A$2.1 million, which were covered through a dividend from sister company IFM Investors.[ citation needed ]
On its fifth anniversary in 2018, the publishers reported significant success in achieving two million unique monthly viewers. [13]
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