The fact they've turned a low margin operation into a good margin operation demonstrates to me that there is expertise there and gives me some confidence in their New Zealand purchase.

Do not be a security professional when talking to senior executives. Be a business manager, whose expertise happens to be security. If you think that way, you will not fail.

By combining the incredibly deep industry expertise of our solution partners with Microsoft's innovative business applications, support plans, and research and development capabilities, we are delivering a winning group of solutions for our mutual customers.

The combination of the good people that surround him, with the experience that James Packer's had, means they will have the capacity to execute those plans.

It was just moderately lower than our expectations. With the first-half result, it is clear revenue would not necessarily beat last year's, in full year terms.

They probably surprised a little bit on the profitability of the Nine Network, which was a good surprise. Their revenue on TV was down and EBITDA was down 13.1 percent but I think a lot of people thought it would be down more than that.