M6940 Advertising Services

JCDecaux’s APN buy shrinks market

roymorgansocial Leave a comment

Original article by Bridget Carter
The Australian – Page: 19 : 27-Jun-18

APN Outdoor Group’s board has recommended that shareholders accept JCDecaux’s revised offer of $A6.70 per share, which values the bid at $A1.217bn. France-based JCDecaux had initially offered $A6.52 per share. APN Outdoor MD James Warburton says digital disruption is unlikely to have much impact on the outdoor advertising sector. APN Outdoors’ shares closed three per cent higher at $A6.42 on 26 June.

CORPORATES
APN OUTDOOR GROUP LIMITED – ASX APO, JC DECAUX SA, OOH!MEDIA LIMITED – ASX OML, ADSHEL PTY LTD, HT&E LIMITED – ASX HT1, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MORNINGSTAR PTY LTD, YARRA TRAMS, NEW SOUTH WALES. ROADS AND MARITIME SERVICES

APN hopes for more from JCDecaux

roymorgansocial Leave a comment

Original article by Bridget Carter
The Australian – Page: 29 : 22-Jun-18

APN Outdoor Group has advised shareholders to take no action at present regarding JCDecaux’s $A1.1bn takeover bid. Dion Hershan of Yarra Capital has described the cash offer of $A6.52 per share as "opportunistic". Shares in the out-of-home advertising group closed 12.14 per cent higher at $A6.56 on 21 June. Based on APN’s current valuation, the offer represents an 11.5 per cent premium to its closing share price on 20 June, and it is believed that a premium of 30 per cent will be required for APN directors to endorse the bid.

CORPORATES
APN OUTDOOR GROUP LIMITED – ASX APO, JC DECAUX SA, YARRA CAPITAL PARTNERS PTY LTD, APN OUTDOOR GROUP LIMITED – ASX APO, CADENCE ADVISORY, ADSHEL PTY LTD, HT&E LIMITED – ASX HT1

French in $1.1bn APN Outdoor bid

roymorgansocial Leave a comment

Original article by Bridget Carter, Scott Murdoch
The Australian – Page: 17 & 19 : 21-Jun-18

JCDecaux has made a cash offer of $A6.52 per share for Australian-listed APN Outdoor Group. France-based JCDecaux is a major player in Australia’s street furniture advertising market, and it says APN’s outdoor advertising businesses would complement its local operations. The $A1.1bn takeover bid is likely to affect APN’s own proposal to acquire the Adshel business from rival HT&E. APN was seen as the leading contender to acquire Adshel, although oOh!media is also believed to be in contention.

CORPORATES
APN OUTDOOR GROUP LIMITED – ASX APO, JC DECAUX SA, ADSHEL PTY LTD, HT&E LIMITED – ASX HT1, OOH!MEDIA LIMITED – ASX OML, YARRA TRAIL PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, GOLDMAN SACHS AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, CLSA AUSTRALIA PTY LTD

Unlockd roadkill after flying too near Google

roymorgansocial Leave a comment

Original article by Supratim Adhikari
The Australian – Page: 17 & 27 : 14-Jun-18

Australian mobile advertising technology group Unlockd was heavily reliant on Google’s app store and AdMob advertising platform. Right Click Capital partner Ben Chong says Unlockd’s descent into voluntary administration demonstrates the risks of a business model which is similar to that of Google itself. Unlockd had proposed an IPO that was tipped to raise around $A80m, and the start-up had previously attracted funding of more than $A60m from private investors.

CORPORATES
UNLOCKD PTY LTD, GOOGLE INCORPORATED, RIGHT CLICK CAPITAL MANAGEMENT PTY LTD, McGRATH NICOL AND PARTNERS SERVICES PTY LTD

Unlockd falls to Google threat and enters administration

roymorgansocial Leave a comment

Original article by Paul Smith
The Australian Financial Review – Page: 13 : 13-Jun-18

Australian advertising technology group Unlockd has been placed in the hands of administrators from insolvency firm McGrath Nicol. Unlockd has attributed its descent into voluntary administration to the actions of Google, which has sought to ban Unlockd’s app from its Play Store and AdMob platforms. Courts in Australia and the UK have ruled in favour of Unlockd in its legal dispute with Google, which has been accused of engaging in "anti-competitive" conduct.

CORPORATES
UNLOCKD PTY LTD, McGRATH NICOL AND PARTNERS SERVICES PTY LTD, GOOGLE INCORPORATED, HIGH COURT OF AUSTRALIA, HIGH COURT OF ENGLAND AND WALES, MTV MUSIC TELEVISION, CITIBANK PTY LTD, CATCH-OF-THE-DAY.COM.AU

Fairfax slapped for Domain ad

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 19 : 8-May-18

Fairfax Media has been fined $A15,000 for running an advertisement in February 2016 that made false claims about its Domain real estate listings business. The advertisement was run one day after Fairfax had agreed in court that it would not place adverts that made false claims, following legal action taken by realestate.com.au owner REA Group. Fairfax was found to be in contempt of court.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, REA GROUP LIMITED – ASX REA, REALESTATE.COM.AU, NEWS CORPORATION – ASX NWS, FEDERAL COURT OF AUSTRALIA, HOMETRACK DATA SYSTEMS LIMITED

Break-up an option for HT&E

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 16 : 8-May-18

Broadcast media and outdoor advertising group HT&E has appointed CLSA and Credit Suisse to review its business as part of its strategy to increase shareholder value. Chairman Peter Cosgrove has told the company’s AGM that its board will consider all options, including selling some assets or the entire company. HT&E recently rejected an approach from rival oOh!media to acquire its Adshel business. HT&E shares closed 0.9 per cent higher at $A2.28 on 7 May.

CORPORATES
HT&E LIMITED – ASX HT1, CLSA AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, ADSHEL PTY LTD, OOH!MEDIA LIMITED – ASX OML, APN OUTDOOR GROUP LIMITED – ASX APO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN RADIO NETWORK PTY LTD, KIIS 101.1, KIIS1065, MEDIACAP, CITY OF BRISBANE, YARRA TRAMS, JC DECAUX AUSTRALIA PTY LTD

Unlockd pulls IPO following Google threat

roymorgansocial Leave a comment

Original article by Paul Smith
The Australian Financial Review – Page: 11 & 16 : 17-Apr-18

Mobile advertising start-up Unlockd has been forced to abandon plans for an IPO after Google advised that its app does not comply with its terms of use. Unlockd’s app, which works by giving smartphone users a discount on their bill in return for seeing ads and other content when they unlock their phone, only works on phones that use Google’s Android platform. Unlockd co-founder Matt Berriman notes that Google previously had no problems with its app, and its action appears to have been prompted by the proposed IPO.

CORPORATES
UNLOCKD PTY LTD, GOOGLE INCORPORATED, HIGH COURT OF ENGLAND AND WALES, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, EUROPEAN COMMISSION, UNITED STATES. FEDERAL TRADE COMMISSION

Under-pressure HT&E rejects oOh!Media offer for Adshel

roymorgansocial Leave a comment

Original article by Dana McCauley, Bridget Carter, Scott Murdoch
The Australian – Page: 19 : 12-Apr-18

Australian-listed HT&E has advised that oOh!Media has made a non-binding and conditional offer for its Adshel outdoor advertising division. However, HT&E’s board has deemed that the offer undervalues Adshel. Meanwhile, the company has indicated that Adshel’s revenue for the March quarter was consistent with guidance issued in February. HT&E has forecast that EBITDA for 2018 will be within the range of $A113m to $A114m.

CORPORATES
HT&E LIMITED – ASX HT1, ADSHEL PTY LTD, OOH!MEDIA LIMITED – ASX OML, AUSTRALIAN RADIO NETWORK PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

SEEK buy-out of News Corp from Asia arm makes sense

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 15 : 6-Mar-18

Online jobs advertiser SEEK will pay $A157 million to buy News Corp’s 13.75 per cent stake in its Asian business. SEEK CEO Andrew Bassat says News Corp had been a "great partner", and that moving to 100 per cent ownership of SEEK Asia "just made sense". SEEK will use existing debt facilities to fund the transaction, which is due to be completed by 16 March. SEEK had revenue of $A620.3 million for the first half 2017-18, of which its international businesses contributed $A340.1 million.

CORPORATES
SEEK LIMITED – ASX SEK, SEEK ASIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS