Adjudication No. 1330 (adjudicated October 2006) [2006] APC 24

Adjudication No. 1330 (adjudicated October 2006)

The Press Council has dismissed a complaint brought by Bill Caralis against The Australian Financial Review in relation to an article published on 20 July 2006.

The article headed Reforms boost no-frill radio company canvassed the possible financial benefits to the complainant's radio group, Broadcast Operations, arising from the federal government's plan to de-regulate the media sector. Mr Caralis objected to the newspaper's description of his company as a 'no frills' company and said that the newspaper had misrepresented the value of his firm.

In his original letter of complaint he asserted that the newspaper had stated that his company was worth $60 million. However, a careful reading of the article indicated that a value of $100 million was the sum speculated by media executives as being the current worth of the company. The newspaper also rejected the claim that the bylined journalist had been put up to make these assertions against the company.

Considering that the article dealt with a matter of legitimate public interest, including the valuation of the company, and that the complainant maintained, before and since the article, his policy of declining interviews, there is no basis for the complaint.