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Seven claims ratings win as millions tune in

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Original article by Dana McCauley
The Australian – Page: 8 : 21-May-18

The Seven Network’s coverage of the royal wedding on 19 May has been widely criticised, despite the fact that it topped the ratings with an average metropolitan audience of nearly two million. This delivered Seven an audience share of 36.4 per cent share for the night, well ahead of Nine’s 26 per cent share. The audience share of Ten’s primary channel sunk to just 3.4 per cent after the network opted to relegate coverage of the wedding to its Ten Daily news website.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, OZTAM PTY LTD, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

ABC in rescue plan to lift dire ratings

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Original article by Stephen Brook
The Australian – Page: 24 : 21-May-18

The ABC will revamp its flagship evening news bulletin, with a focus on major stories, exclusive content and interviews. A strategy document also shows that the public broadcaster wants to ensure that "ABC News" is better integrated with "7:30" so the latter does not cover the same stories. The ABC is seeking to arrest a decline in the ratings of its 7pm news, which boasted an audience of just 660,000 across the five main capital cities in mid-May. Its audience is also heavily skewed toward the 50+ age demographic.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Fox deal seals Murdoch succession

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Original article by Brooks Barnes
The Australian Financial Review – Page: 13 : 18-May-18

Rupert Murdoch’s 21st Century Fox has advised that Lachlan Murdoch will become CEO and chairman of what has been dubbed "New Fox" if a deal to sell most of its entertainment assets to Disney proceeds. Rupert Murdoch will be co-chairman of what would be a much smaller company, with assets such as the Fox broadcast network and cable channel Fox News. Lachlan Murdoch says the new Fox will be a "leader in news, sports and entertainment". Fox’s current CEO James Murdoch is widely tipped to leave the group and start his own business.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, FOX BROADCASTING COMPANY, FOX NEWS, COMCAST CORPORATION, HULU LLC, NEWS CORPORATION – ASX NWS

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