Red Heart
Encyclopedia
Red Heart was a joint venture between the Seven Network
and Granada PLC
between c. 1999 and 2001. It brought together all of its Australia
n parents' TV production resources, except those used for Seven's news and soaps.
One theory states that Granada was looking to buy Seven's core, through it eventually owning 100% of Red Heart. Red Heart may have also eventually controlled Seven's news and soaps. This was a time when "content is king" was a popular idea.
Australia's Broadcasting Services Act 1992 disallows foreign entities owning more than 15% of any TV station licence holder, but owning a company that provides a station with 100% of its content for 99% of its income is fine. (CanWest
found another way around the law to own a majority stake of Network Ten
).
However, Granada decided to pull out of Red Heart when it realised it could make more money selling Australian programs to other Australian broadcasters than it would just supplying Seven. It has been rare to see Australian-made Granada programs on the screen.
Seven Network
The Seven Network is an Australian television network owned by Seven West Media Limited. It dates back to 4 November 1956, when the first stations on the VHF7 frequency were established in Melbourne and Sydney.It is currently the second largest network in the country in terms of population reach...
and Granada PLC
Granada Television
Granada Television is the ITV contractor for North West England. Based in Manchester since its inception, it is the only surviving original ITA franchisee from 1954 and is ITV's most successful....
between c. 1999 and 2001. It brought together all of its Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n parents' TV production resources, except those used for Seven's news and soaps.
One theory states that Granada was looking to buy Seven's core, through it eventually owning 100% of Red Heart. Red Heart may have also eventually controlled Seven's news and soaps. This was a time when "content is king" was a popular idea.
Australia's Broadcasting Services Act 1992 disallows foreign entities owning more than 15% of any TV station licence holder, but owning a company that provides a station with 100% of its content for 99% of its income is fine. (CanWest
CanWest Global Communications
Canwest Global Communications Corporation, which operated under the corporate brand Canwest, was a major Canadian media company based in Winnipeg, Manitoba, with its head offices at Canwest Place...
found another way around the law to own a majority stake of Network Ten
Network Ten
Network Ten , is one of Australia's three major commercial television networks. Owned-and-operated stations can be found in Sydney, Melbourne, Brisbane, Adelaide and Perth, while affiliates extend the network to cover most of the country...
).
However, Granada decided to pull out of Red Heart when it realised it could make more money selling Australian programs to other Australian broadcasters than it would just supplying Seven. It has been rare to see Australian-made Granada programs on the screen.