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Kidman powers up with Tesla lithium deal

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Original article by Paul Garvey
The Australian – Page: 19 & 30 : 18-May-18

Kidman Resources has advised that it has secured electric car maker Tesla as a foundation client for its proposed lithium hydroxide processing plant in Western Australia. Growing interest in electric cars has created strong demand for commodities like lithium and cobalt that are used in their batteries. Kidman has indicated that its initial deal with Tesla will run for three years, with the option for two three-year extensions.

CORPORATES
KIDMAN RESOURCES LIMITED – ASX KDR, TESLA INCORPORATED, SOCIEDAD QUIMICA Y MINERA SA, PILBARA MINERALS LIMITED – ASX PLS, GREAT WALL AUTOMOBILE HOLDINGS, BMW AG, VOLKSWAGEN AG, MERCEDES-BENZ AG

Field wide open as VRC spruiks media rights

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Original article by Max Mason
The Australian Financial Review – Page: 28 : 18-May-18

Victoria Racing Club hopes to use a new broadcasting rights deal for the Melbourne Cup carnival to attract more people to Flemington Racecourse for the event, arguing that it is more than just about horse racing. The VRC has not issued a tender for the four-day carnival since Seven West Media gained the rights in 2002. VRC CEO Neil Wilson says it is open to deals with more than one partner, including a sub-licensing arrangement.

CORPORATES
VICTORIA RACING CLUB LIMITED, THE LEXUS MELBOURNE CUP, SEVEN WEST MEDIA LIMITED – ASX SWM, TWITTER INCORPORATED

Performance bonuses here to stay at ABC

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Original article by Stephen Brook
The Australian – Page: 3 : 17-May-18

The ABC has defended its remuneration system in the wake of revelations that staff received bonuses totalling $A2.6m in 2017. A spokesman has indicated that fixed remuneration rates for ABC executives are consistent with market rates, while performance pay scales are below market rates. Communications Minister Mitch Fifield notes that federal government departments abolished executive bonus schemes in 2008, but the government has no power to direct the ABC to do so.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, SPECIAL BROADCASTING SERVICE (SBS), NBN CO LIMITED, COMMUNITY AND PUBLIC SECTOR UNION

Hard-hitting, trusted news still sells, in digital and in print

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Original article by Chris Mitchell
The Australian – Page: 25 & 26 : 14-May-18

Traditional news providers have allowed Facebook to "cherry pick" their content to provide news feeds that have the potential to undermine their business. News publishers have also allowed themselves to be blinded by technology, and have forgotten what good journalism is meant to be about, namely the provision of news and stories that matter to the general public. The Australian Competi­tion & Consumer Commission’s inquiry into digital platforms gives traditional publishers the opportunity to "fight back". The inquiry has shown that digital platforms should pay for the content they use from traditional news sources, and that they should be viewed as publishers, and therefore subject to the same laws as traditional publishers.

CORPORATES
FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE INCORPORATED, AMAZON.COM INCORPORATED, APPLE INCORPORATED, NETFLIX INCORPORATED, YOUTUBE INCORPORATED, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS

ABC determined to fight $84m funding cut

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Original article by Max Mason
The Australian Financial Review – Page: 8 : 10-May-18

ABC MD Michelle Guthrie has told the public broadcaster’s staff that a funding freeze in the May 2018 Budget will affect its ability to comply with the requirements of its charter. The ABCs budget will be unchanged at $A3.16bn over the three years from July 2019, effectively reducing its funding by $A83.7m over this period. Guthrie says the ABC’s management will "seek every opportunity" to have the funding cuts scrapped before they take effect. Funding for SBS will be increased by $A14.6m over two years.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF THE TREASURY, FOXTEL MANAGEMENT PTY LTD, NEWS CORPORATION – ASX NWS

ABC to feel the pinch with funding freeze

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Original article by Michael Koziol
The Sydney Morning Herald – Page: 6 : 9-May-18

The May 2018 Budget includes a freeze on the ABC’s funding until 2022, amounting to savings of $A83.7 million. Despite the freeze, the public broadcaster will still receive funding of over $A1 billion a year. Some $A50 million of the $A83.7 million saved as a result of the funding freeze will be spent over four years on the commemoration of the 250th anniversary of the landing of Captain James Cook. Unlike the ABC, SBS will not have its funding frozen.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF THE TREASURY, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS

JB Hi-Fi stays firm on outlook

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Original article by Eli Greenblat
The Australian – Page: 26 : 8-May-18

Australian-listed JB Hi-Fi has defended its decision to include a profit warning in a presentation to the recent Macquarie Australia Conference rather than issuing a statement to the stock exchange. Responding to a query from stock exchange operator ASX Limited, the consumer electronics retailer said it had been of the view that the information in the presentation would not have a material effect on its share price. JB Hi-Fi’s shares fell by more than 10 per cent following the presentation.

CORPORATES
JB HI-FI LIMITED – ASX JBH, ASX LIMITED – ASX ASX, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

How Nine Entertainment turned TV’s summer of sport on its head

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Original article by Max Mason
The Australian Financial Review – Page: 31 : 7-May-18

There were a number of compelling reasons for Nine Entertainment Company to drop its cricket coverage in favour of a six-year deal to broadcast the Australian Open. Tennis is a better fit for Nine’s audience demographic, while the broadcasting rights and production costs are substantially lower. Timing also played a role; Nine commenced talks with Tennis Australia on 14 March, after Seven West Media’s exclusive negotiating period had expired. Meanwhile, Cricket Australia had issued its tender documents for broadcasting rights in early March, with bids to submitted by 19 March. Nine CEO Hugh Marks had hoped to finalise a deal with Cricket Australia by October 2017, and he says the delay allowed Nine to make the decision to switch from cricket to tennis.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN OPEN TENNIS, TENNIS AUSTRALIA, CRICKET AUSTRALIA, SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, TEN NETWORK HOLDINGS LIMITED, FOX SPORTS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Stokes sees value in media mergers

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Original article by Angela Macdonald-Smith, Max Mason
The Australian Financial Review – Page: 27 : 4-May-18

Seven Group Holdings CEO Ryan Stokes says a merger between a newspaper publisher and a TV network could have synergies, although he argues that such deals should only proceed if they will deliver value for shareholders. Stokes notes that the cross-media model has worked well for Seven West Media, which owns newspaper assets in Western Australia. Stokes has also indicated that Seven Group is likely to eventually offload its investment portfolio and reinvest the proceeds in "active" assets.

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, SEVEN WEST MEDIA LIMITED – ASX SWM, BEACH ENERGY LIMITED – ASX BPT, SGH ENERGY, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, WESTRAC HOLDINGS PTY LTD, COATES HIRE LIMITED, LATTICE ENERGY LIMITED, ROYAL DUTCH SHELL PLC

Hywood signals Fairfax open to merger with free-to-air television network

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Original article by Dana McCauley
The Australian – Page: 19 : 3-May-18

Fairfax Media CEO Greg Hywood says the company is well-placed to capitalise on industry consolidation in the wake of cross-media ownership reforms. He has also argued that mergers between print and broadcasting companies are possible, although all interested parties would have to benefit from any such deal. Meanwhile, Fairfax has advised that group revenue fell by one per cent during the first 17 weeks of the second half of 2017-18; its Australian Metro Media division’s revenue was about two per cent lower than the same period in 2016-17.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN METRO MEDIA, AUSTRALIAN COMMUNITY MEDIA, STUFF LIMITED, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN WEST MEDIA LIMITED – ASX SWM