The Australia Network is set to be axed in next week’s budget, just weeks after it signed a deal to significantly increase its presence inside major trading partners China and Indonesia. Cabinet signed off on the decision to abolish the network on Wednesday, The Australian Financial Review understands. It is run by the ABC under a $223 million, 10-year contract awarded by the Gillard government, after it controversially abandoned a tender process which had given rights to Sky News. Veteran media buyer Harold Mitchell, a long-time supporter of the network, said he would be very disappointed if Australia was no longer properly represented in the booming Asian economy.
