In an odd juxtaposition, the bogan, while poorly informed on almost all matters, will still have an opinion on most things, and is actually a relatively voracious consumer of media. The media have long known the enticing power of the bogan buck, and once their websites gave them the power to monetise bogan clicks, and the ability to count those clicks, internet news trends were set in place forever. While news websites are thus invariably plastered with images of women in varying stages of undress, links to stupid stories about bogans and various other trollbait, there has been an increasing move to boganise the news. When an event happens, it cannot simply be reported; there must be an angle of bogan interest. This week, this directive collided with reality with the force of several poorly-timed Jagerbombs.
When UK-via-South Africa brewing giant SABMiller made a play to buy out Foster’s Group earlier this week, it was a lead story on almost all newspapers and websites. Bogan fear merchants Today Tonight led with the story that yet another Aussie Icon Was Being Taken Over By Big Foreign Business. Unfortunately, there really wasn’t a great deal of news. SABMiller had offered $4.90 per share for Fosters, which was politely refused, and which pushed the company’s value up 30c/share. Moreover, even if the sale went ahead, there really wasn’t a great deal to report. The Aussie beer industry is already a virtual duopoly between Foster’s and Lion Nathan (owned by Kirin). It would simply become a duopoly between Foster’s (owned by SABMiller) and Lion Nathan (owned by Kirin).
We at Boganomics saw this, and shed a single lonely tear for the hard-working folk at Fairfax, News Ltd and Channels 7, 9 and 10. Even the ABC. So, in our guise as Maxtreme Consultants, we’re here to help. Here is the story of the sale of Foster’s that the bogan wants to read. After all, why let the truth get in the way of a good yarn?
To read our article in full, head over to the Macrobusiness Superblog…