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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

Nine left without a major summer sport

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Original article by Dana McCauley
The Australian – Page: 21 : 2-May-18

Seven West Media CEO Tim Worner has confirmed that the Seven Network will broadcast cricket and tennis during the 2018-19 summer, despite some Test and Big Bash League matches being scheduled at the same time as the Australian Open. Nine Entertainment Company will take over tennis broadcasting rights in 2020, and there had been speculation that the two networks would cut a deal for Nine to commence its tennis coverage a year earlier.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN OPEN TENNIS, BIG BASH LEAGUE, TENNIS AUSTRALIA, FOXTEL MANAGEMENT PTY LTD

Stump up or miss out: first cricket games all on pay-TV

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Original article by Jennifer Duke
The Age – Page: 3 : 1-May-18

Fans of Australian men’s international cricket who only have free-to-air TV will not be able to see any matches in the 2018-19 fixture until 6 December. Cricket Australia announced its upcoming fixture on 30 April, with the first seven men’s international games either being one day games or Twenty20 matches, with all seven games only being shown on pay-TV network Foxtel. Seven West Media, which teamed up recently with Foxtel to secure the rights to broadcast Australian cricket matches for six years in a $A1.2 billion deal, will not broadcast a men’s game until the First Test.

CORPORATES
CRICKET AUSTRALIA, FOXTEL MANAGEMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, TEN NETWORK HOLDINGS LIMITED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS

Kaufland set to open first store, suppliers told

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Original article by Eli Greenblat
The Australian – Page: 19 : 30-Apr-18

Grocery suppliers have been advised by German supermarket operator Kaufland that it plans to open its first Australian stores by the end of 2018. Kaufland has been advertising for executives in the past few months, with former Metcash and Woolworths executive Mark Hewlett joining it as chief operating officer. Its latest advertisements have called for executives with experience in areas such as fashion, accessories and homewares, leading to suggestions that it might be trying to take customers from general merchandise stores such as Kmart, Target and Big W.

CORPORATES
KAUFLAND STIFTUNG & CO KG, METCASH LIMITED – ASX MTS, WOOLWORTHS GROUP LIMITED – ASX WOW, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, BIG W DISCOUNT STORES, COLES SUPERMARKETS AUSTRALIA PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, DAVID JONES LIMITED, MYER HOLDINGS LIMITED – ASX MYR

Regional TV urges more deregulation

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 30-Apr-18

WIN Corporation, Prime Media and Southern Cross Austereo want the Federal Government to further relax cross-media ownership laws by scrapping the rule that a company can own just one TV broadcasting licence in a single market. This would enable regional broadcasters to merge, which Prime CEO Ian Audsley warns is crucial to the sector’s survival. He notes that the cost of buying content is rising while audiences and advertising revenue are fragmenting. Regional broadcasters have also called for the "two radio licences to a market" rule to be scrapped.

CORPORATES
WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NINE NETWORK AUSTRALIA LIMITED, SEVEN NETWORK LIMITED, TEN NETWORK HOLDINGS LIMITED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ