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Kerry Packer dies -

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(generated from captions) Welcome to the program. you for the next few weeks. I'm Maxine McKew and I'll be with dominated by sporting news - On a day that's normally race and the drama at the MCG - the latest on the Sydney-Hobart

came the shock announcement who helped revolutionise that the man Kerry Packer, our approach to big sporting events, overnight. had died at his Sydney home it was the Nine Network Appropriately, which broke the news this morning.

A key asset in the vast PBL group, over the years Channel Nine's success to Mr Packer's personal vision owed a great deal and high-profile events programming. of a prestigious stable of stars a personal fortune of $7 billion Kerry Packer amassed by Forbes magazine and was recently listed in the world. as the 94th richest person is still absorbing the news The business community that now controls television, and what it means for an empire and financial services. magazines, gaming interests Publishing and Broadcasting Limited Mr Packer handed over the running of to his son James in 1998 but right up until Christmas with his businesses Kerry Packer was still involved on a day-to-day basis. from the Prime Minister, There were tributes today and from business colleagues. from the country's sporting greats and one-time legal adviser Former 'Bulletin' writer Malcolm Turnbull, for Wentworth, now the federal member on his web site: summed it up this way loved winning. Kerry Packer, he said, in business, at the casino It did not matter whether it was or on the sporting field. who had more wins than losses Our coverage tonight of a man considers the Packer legacy. Emma Alberici. First, here's finance editor

reluctantly. I appear here this afternoon

I don't know what to say about

Victor, except that when I heard

Victor had been shot, I cried. And

don't cry often. Victor had been shot, I cried. And I

Leave me alone. Get out of my way.

You're sitting here under

parliamentary privilege dragging

that up again, having been ex on

rated by the Parliament of this

hide! country. I think you've got a damn

Everyone has a Kerry Packer story,

but you talk to businessmen who've

dealt with him and they come out of

meetings with him shellshocked

because he has been so rude and so

so direct. And so scary, basically. because he has been so rude and so -

He was this absolutely formidable

personality. Give you nightmares!

Kerry was someone who, whether you

liked it or not, you always knew

what he thought. And that was sort

of - that was very straightforward.

Sometimes you didn't actually want

to know what he thought because he

would tell you. And that could be

painful. Of course I am minimising

my tax. And if anybody in this

country doesn't minimise their tax,

they want their heads read, because

as a government, I can tell you

you're not spending it that well

that we should be donating extra!

(LAUGHTER)

They say there are only two certain

tease in life - death and taxes.

Kerry Packer believed he could beat tease in life - death and taxes. But

both. He returned from the dead in

1990 following a heart attack on

polo field, which left him without 1990 following a heart attack on the

pulse for six minutes. You want the polo field, which left him without a

good news or the bad news? Give us

the good news. The good news is

there peace no devil. The bad news

is there peace no heaven. Is that

right? Yeah, there's nothing.

To borrow a term from one of his

hit TV shows, Australia's richest To borrow a term from one of his own

man was the ultimate survivor.

Outwitting, outplaying, and

outlasting those in the television

and magazine world. His fighting

spirit, some would say bully

tactics, the legacy of a harsh

childhood. I don't think anyone,

including Kerry, I might say, ever

thought that he would be the

he has been, because he was thought that he would be the success

considered ... um ... he was

considered the dunce of the family,

and he told me that his mother

called him stupid. Kerry Packer's and he told me that his mother often

mother Gretel bought her clothes in

Paris, and returned them to that

same city for dry cleaning, such as

the moneyed environment they lived

in. Frank Packer was a

disciplinarian, fond of boxing ears

in the home boxing ring. Kerry was

good member of the class. He was in the home boxing ring. Kerry was a

good at writing. He suffered from good member of the class. He was not

what we now know as dyslexia, and

that's public knowledge. But he was

very good in discussion. He would

give a good, honest account of

himself. And say what he thought. I

liked him. Kerry Packer learned his

survival skills early. Sent to a

boarding school at the age of 5,

just a year later, he developed a

serious bout of polio, and spent

nine months on a respirator. His

studies suffered and he was

pilloried by his father for his

of academic achievement. I think he pilloried by his father for his lack

was bullied unmers --unmercifully

his father. People who are bullied was bullied unmers --unmercifully by

tend to treat others the same way.

The whole Packer organisation is

of bullying. It's one there is a The whole Packer organisation is one

fair degree of fear run through it

over the years. People who deal

over the years. People who deal with Packer go out and deal with others

in the same way. If you're down the

bottom of that organisation, there

is an awful lot of people on top of

you being pretty unpleasant to you.

And if you screw up, very little

sympathy for that. Unofficial Kerry

Packer biographer Paul Barry

remembers a tough guy whose

remembers a tough guy whose attitude to business stemmed from an

obsessive-like desire to prove his

father wrong about him. And as far

as business savvy and creating

wealth go, he did just that. Sir

Frank Packer established the media

empire in 1933, with the women aes

empire in 1933, with the 'Women's Weekly' magazine. Its success

provided the capital for an assault

on newspapers, starting with

Sydney's 'Daily Telegraph'. At 19,

Kerry Packer finished school and

went to work for the family's

publishing business. Like his dad,

he did nothing by halves. In Kerry

Packer, you could have no better

friend, or worse enemy. He was a

very generous boss to work for, and

he was also ... he was very

he was also ... he was very generous to employees. If you went to see

to employees. If you went to see him about somebody that worked for the

company and who might have had a

sick wife or was struggling to pay

some bills or - or I know that we

looked after people that had

multiple sclerosis, things like

that. Nothing was too much trouble.

Good evening and welcome to

television. In 1956, ACP bought a

television licence and TCN Nine

became Australia's first TV

broadcaster. In 1794, the year

before the country's first colour

transmission, Sir Frank Packer died,

delivering the reins of the family

business to Kerry Packer. I think

that one of the most interesting

things about Kerry Packer as a

businessman is not just his ability

to acquire things, but also to sell

them. And he had great admiration

for his father, who had sold the

love of his life, the 'Daily

Telegraph' in Sydney to Rupert

Murdoch. In 1987, Kerry Packer was

made an offer that he couldn't

refuse by Alan Bond for Channel

Nine. Kerry Packer sold the Nine

Network to Alan Bond for $1 billion,

making him Australia's first

billionaire. And three years later,

in a stunning display of his

corporate canniness, he bought it

back for just a quarter of a

billion, claiming you only get one

Alan Bond in your lifetime. He got

the best of me. No brob about that.

He did a fantastic deal for himself.

But life didn't always deal him

But life didn't always deal him such a fantastic set of cards. In the

early 19 80s, Kerry Packer was

investigated by the Costigan Royal

Commission for a range of criminal

activities. After more than a year

of intense scrutiny, he was cleared

with a public apology from the

Attorney-General. He wanted the

Fairfax empire because there's this

long animosity between the

Fairfaxes and the Packers. The

Packers were seeing as being coarse,

vulgar, a bit nouveau riche. There

was that in the first place, and

then in the 19 80s, there as all

then in the 19 80s, there as all the stuff with the 'National Times' and

the Goanna which was published in

Fairfax papers. I think Packer

wanted to wreak revenge for that.

Budget Parliament thought Kerry

Packer already had too much control

of the media. The Australian

Broadcasting Authority launched an

investigation into 1998, when a

long-time chief executive of

Packer's main company suddenly

resigned and within hours joined

resigned and within hours joined the board of Fairfax. I am telling you,

there is no arrangement. And I'm

sick of telling people, there is no

arrangement. He was a very generous

person. And I know for a fact that

many of us kindest and most

many of us kindest and most generous and charitable deeds went

unreported, unpublished, which is

precisely how he wished it to be.

Inside, just the softest person. He

was generous to people. We'll never

know how generous Kerry Packer was

to so many Australians. His loyalty

inspired great loyalty in return.

None more than from his long-time

friend and helicopter pilot Nick

Ross, who, in 2000, gave Kerry

Packer the ultimate gift. I

Packer the ultimate gift. I consider myself very privileged to not only

know him, but to actually be a

friend. And I mean that sincerely.

friend. And I mean that sincerely. I gave Kerry the kidney for a number

of reasons. He's had a rough bloody

track, medically, all his life.

Hasn't had a great deal of quality

living in the last several years. I

wanted to help him, and I could

wanted to help him, and I could help him, so I did. I will be forever

grateful. I mean, obviously. He

saved my life. In 1998, as Kerry

Packer's health began to give way,

his son James was officially

anointed his successor. A year

later, the business began changing

complexion, merging with Crown

Casino, providing the company with

Casino, providing the company with a foray into gaming here and overseas.

James is an outstanding businessman.

He has had to live at the time that

Kerry Packer was larger than life,