Suite Talk: Michael Miller

How are you navigating recent trends in the consumer and media landscape amid Australia’s challenging macroeconomic environment?

It’s undoubtedly complex. Consumer uncertainty stems from an unclear political outlook that shapes our geopolitical and economic settings, while traditional indicators have become less reliable post-pandemic because of technological disruptions.

At News, we’ve seen an increase in video consumption and Australians becoming among the highest per capita users of artificial intelligence. Audiences increasingly seek both choice and simplicity, even as competition for their attention grows. This demand for streamlined options fuels interest in aggregation and bundling, especially in the context of rising cost-of-living.

There’s a saying I like: you’ve got to listen to your audience. And we truly invest in data to understand our audience, but we also rely on “our golden gut”—that instinct and empathy that comes from direct interaction.

Companies that can anticipate and adapt to those audience shifts will be better positioned to navigate the market. Today, the market values true leaders and category innovators over fast followers. In our business, we engage with 17 million Australians each month, providing us with strong insights into how they feel, react, and what they’re reading.

What are the benefits and challenges of overseeing a diverse group of companies as executive chairman, and how do you manage this complexity?

The first principle is having good people—that’s essential. Next, establishing effective feedback loops is crucial. Some of this comes from clear metrics, much of which is automated now, but you still need to stay on the pulse. I keep multiple screens to follow the news and monitor data, which helps me stay closely connected to what’s happening in real time.

Speaking with people is key. The best journalists and salespeople are those who work in the field. When I return from leave, instead of sending emails, I make phone calls to speak directly with people. That first-person colour gives you a better sense of what’s going on.

It’s also important to be crystal clear on who your audience and clients are—and who they’re not. Prioritisation is a daily exercise.

Can you give an example of prioritisation in action?

The news cycle can shift priorities quickly. It’s about resource allocation and the ability to say, “I know I asked you to do this, but I’m now asking you to stop and do something different.” Being clear in delegation helps. It’s also about allocating development dollars wisely—knowing when to commit and follow through, but also when to pull back. You may have already invested, but if the benefits aren’t aligning with expectations, don’t keep spending just for the sake of finishing.

I think there’s often pride in finishing what you start, but I don’t always subscribe to that. It’s important to be pragmatic enough to say, “We tried this, but it’s not going to deliver what we initially thought."

That sunk-cost fallacy could really cost companies, on their balance sheets or reputationally, if they insist on seeing things through arbitrarily.

Yes, and that’s something businesses often worry about—the optics and perceptions around changing their stance. It’s okay to change your mind. Consumers do it every day, and as long as you provide clear, strong reasoning, it shows humility and transparency. By explaining your decision openly, people often respond, “That’s the right choice.” Consumers and business professionals are smart; they can see through insincerity.

How do you continuously challenge and innovate for yourself as a person and across your career?

I take it as a personal challenge to seek variety both in and outside of work. While I appreciate routine, I’ve learned to embrace flexibility—like changing up my daily run rather than following the same route every day.

That variety also helps me to understand and empathise with our different audience groups and clients by exploring new apps, trying out platforms, and keeping up with trends I know our audiences are interested in. I try to understand new sports, I watch programmes which aren't necessarily for me, but I watch them with the kids to give me another perspective.

“It’s okay to change your mind. Consumers do it every day, and as long as you provide clear, strong reasoning, it shows humility and transparency”
- Michael Miller, Executive Chairman, News Corp Australia

Can you share a specific experience where you took a risk and what you took from that experience?

The time I left News Corp to join APN News & Media stands out. When I joined, half the board and the CEO had left, and there was uncertainty about whether the company would survive. Within two years, we doubled its value and got it back into the index. People questioned why I would leave the safety of one company to lead another that seemed on shaky ground.

That was a professional risk but also an opportunity to challenge and test myself, and I’m glad I did—it taught me a lot. I wouldn’t have the role I have now if I hadn’t taken that risk, though I also recognised what I missed by leaving.

In our work, we deal with risk every day. Editorial decisions come with a significant responsibility to get it right, often involving stories that make people uncomfortable. Occasionally, this brings criticism or intimidation, but that doesn’t mean we’re wrong. You have to be confident enough to stand up to those who may not like what you’re doing; there’s personal and reputational risk involved, and that carries responsibility.

We're a company borne of a newsroom culture where you debate, you do, you review. It happens constantly throughout the day. And that doesn't just apply to our editorial, it applies to all aspects of how we operate.

It saddens me that Australia seems to be becoming more risk-averse. We were once known for a bit of a “Wild West” attitude, but now we're too known to be the “Safe South”. That's a global reputation and that's not a great one. We’re a country with a strong history of entrepreneurs, doers, and explorers who can export great ideas globally, but, in my view, that spirit seems to be fading.

For News Corp sitting within a global media company, how do you feel the Australian chapter is positioned within that environment, and where is it going?

I’m proud to be part of the global News Corp family. We’re a dual-listed company, originally listed in Australia, and much of the News Corp culture worldwide reflects Australian culture. It’s always something special to visit News Corp offices around the world and hear Australian accents, whether from our global CEO, Robert Thomson, or our global CFO, Susan Panuccio.

The entrepreneurial spirit our founder instilled remains a core part of who we are. There are so many inspiring stories of Australians who have made a global impact, demonstrating that we can compete with the best in the world. Being part of a company like that makes me incredibly proud as an Australian.

“We're a company borne of a newsroom culture where you debate, you do, you review. It happens constantly throughout the day. And that doesn't just apply to our editorial, it applies to all aspects of how we operate.”
- Michael Miller, Executive Chairman, News Corp Australia

Australia is on the cusp of the next federal election. Are there policies you are watching out for that you can speak to?

In my role, I’m very careful about what I say externally. I don’t want politicians, staff, or audiences to confuse our corporate stance with our editorial stance. While I have personal views on many issues, I’m cautious not to express them publicly or suggest a corporate position, unlike other companies that feel the need to do so. I don’t see the need to take a stance on social issues at this time because I don’t want to risk confusing our audiences.

This doesn’t mean we lack support; it simply reflects our commitment to serving our audiences—all audiences—rather than advancing our own needs. Our editors know their audiences well, each with unique geographic or demographic needs, and it’s crucial they determine what’s right for their specific audience groups independently.

As a company, we bear a lot of responsibility, which I see as an opportunity, not a burden. Our core values are to make a difference, to advocate, to motivate, and to build a better Australia for all Australians. That’s a personal motivation for me, not just a professional one.

This interview has been edited for length and clarity.