Media Roundup: Nick McKenzie's legal 'leak', White House messaging gaffe, Intrepid Travel eyes growth and spotlight shines on streaming diversity

As Blake Foden writes in The Daily Telegraph, the tape, aired by Sky News Australia, captures McKenzie describing the intel as “helpful” and acknowledging he’d “breached [his] f---ing ethics.”

The comments relate to a 2021 conversation where McKenzie was reportedly trying to reassure a witness ahead of giving evidence for Nine.

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Tech

White House gaffe exposes top-secret US military planning to journalist

In a mix-up that’s raised eyebrows across Washington, a high-level White House group chat discussing classified US military action against the Houthis in Yemen accidentally included The Atlantic's editor-in-chief, Jeffrey Goldberg.

As Michael Koziol writes in The Sydney Morning Herald, the encrypted Signal thread featured some of the Trump administration's most senior players, including Vice President J.D. Vance and Defence Secretary Pete Hegseth, who were openly sharing sensitive operational details.

The White House later claimed Goldberg’s inclusion was 'unintentional'.

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Aussie Protecht founders cash in as US firm takes control

Sydney-based risk software firm Protecht has scored a $445 million investment from US private equity player PSG Equity, which now takes majority ownership and buys out earlier investors, including Arrowroot Capital.

As Paul Smith reports for The Australian Financial Review, the deal marks a major liquidity moment for one of Australia's quieter tech success stories.

Founded in 1999 by ex-PwC colleagues David Bergmark and David Tattam, Protecht had largely bootstrapped until 2022.

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23andMe hits reset as CEO exits and data goes on the block

DNA-testing firm 23andMe has filed for Chapter 11 bankruptcy and plans to offload most of its assets, including its vast genetic data bank, under a court-supervised restructure.

As Wyatte Grantham-Philips writes in The Sydney Morning Herald, the move comes as the company looks to trim costs and recoup value from a once-hyped healthtech brand that never turned a profit.

Co-founder and CEO Anne Wojcicki has stepped down but will stay on the board.

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Brands

Intrepid Travel eyes global growth as demand shifts north

Aussie-based Intrepid Travel is dialling up its international expansion after reporting $626 million in revenue for 2024, a 17% lift on the previous year. With most of its business now coming from outside Australia, the company also posted a 24% jump in EBIT to $42.9 million.

As Glenda Korporaal writes in The Australian, the adventure tour operator is leaning into post-pandemic travel trends, with CEO James Thornton pointing to strong growth in Asia and the UK, and a 12% rise in customer numbers.

Intrepid now operates 31 offices globally, including its latest in Copenhagen, as it targets a cooler-climate crowd in northern Europe.

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Streaming

Diversity still catching up after a decade of streaming

Ten years after Netflix landed in Australia and rewrote the rules of television, a new report from RMIT’s Streaming Industries and Genres Network takes stock of the industry’s evolving approach to diversity.

As David Knox writes in TV Tonight, progress is happening, but it’s patchy and often poorly tracked.

While international platforms like Netflix, Prime Video and Stan have started investing in more locally diverse titles, Heartbreak High, Deadloch, and Invisible Boys among them, the report suggests these efforts are recent and still not fully representative.

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Retail

Toys R Us brand faces fresh trouble as sales tumble

Toys R Us is staring down another financial crisis, with its latest accounts revealing a sharp drop in sales and a warning from auditors that the business may not stay afloat.

As Carrie LaFrenz writes in The Australian Financial Review, the online-only retailer pulled in just $3.1 million in first-half revenue, nearly halving its result from the same period last year.

The company’s books show a $12.8 million shortfall between assets and liabilities, prompting RSM Australia to flag “material uncertainty” over its future.

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