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October 20 - Black Monday: After the largest fall in the
Dow Jones's history, stock markets
nosedive around the world. Australia is no exception as the All Ordinaries
falls 25%, making it the biggest one-day drop in the market's
history.
November 24 - Sir Joh sacks three ministers from his cabinet,
accusing them of gross disloyalty.
November 26 - The National Party deposes Sir Joh
Bjelke-Petersen as party leader, but he refuses to resign as
premier. He was not present at the caucus meeting.
December 1 - Sir Joh Bjelke-Petersen resigns as premier of Queensland after 19 years at the top. He is replaced
by Mike Ahern, who becomes the only premier never to contest an
election as premier.
December 8 - Queen Street
Massacre: 22-year-old Frank Vitkovic kills 8 and injures
another 5 in an Australia Post office building in Queen
Street before committing suicide by jumping from the 11th
floor.
February - Fairfax,
owners of ATN-7 & BTQ-7 purchase HSV-7 from The
Herald and Weekly Times Ltd for $320 million. The
move sees the replacement of most Melbourne-produced programming
with networked programming from Sydney, including long-running shows such as World of Sport
& sees Mal Walden
sacked as newsreader. The revamped news service, read by former
STW-9 newsreader Greg
Pearce plunges to as low as zero in the ratings.
July 19 - Long-running ABC music program
Countdown broadcasts its final
episode.
August - New cross-media ownership rules force the sale of the
Seven Network.
Fairfax sells its stations to Christopher Skase's Qintex company for $780 million.
December 27 - Rupert Murdoch's ownership of ADS-7,
combined with TVW-7's ownership of SAS-10, result in the
stations deciding to swap callsigns & affiliations. So, on this
day, ADS-7 becomes ADS-10 & SAS-10 becomes SAS-7.
Sport
March 22 – Steve Moneghetti is Australia's best
finisher in the men's competition at the IAAF World
Cross Country Championships, staged in Warsaw, Poland. He finishes in 11th place
(37:11.0) in the long-distance race over 11,950 metres. In the
women's competition Krishna Stanton ends up in 8th place in the
long event (5.050 metres).
April 5 – It is announced that Newcastle will join the NSWRL in 1988. They are later joined by Brisbane and the Gold
Coast to form a 16-team competition.
June 7 – Daniel Boltz wins the men's national marathon title,
clocking 2:14:36 in Sydney, while Tani Ruckle claims the women's
title in 2:37:53.