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Nine and Ten offer $900m for cricket

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Original article by Max Mason
The Australian Financial Review – Page: 28 : 9-Apr-18

The Ten Network would broadcast one-day internationals and all Twenty20 matches if its joint bid with Nine Entertainment Company is accepted by Cricket Australia. Nine would only broadcast Test matches under a revised bid by the two networks. Their offer is worth around $A150m a year, or $A900m over the six-year life of the new broadcasting rights deal. Cricket Australia has previously rejected a joint bid from Nine and Ten that was worth about $A130m a year. Meanwhile, Fox Sports has cited the lack of progress regarding a rights deal for its decision to withdraw from negotiations with Cricket Australia.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, CRICKET AUSTRALIA, FOX SPORTS AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN WEST MEDIA LIMITED – ASX SWM, TENNIS AUSTRALIA

FTA networks concerned over potential pay TV cricket deal

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Original article by Max Mason
The Australian Financial Review – Page: 28 : 5-Apr-18

Cricket Australia has signalled that its new six-year broadcasting rights deal may require only certain matches to be televised by free-to-air networks. There is growing concern among the three commercial networks that CA could secure a rights deal for pay-TV coverage that would require them to negotiate directly with Fox Sports rather than CA. The three commercial networks are also believed to have expressed interest in at least some cricket broadcasting rights.

CORPORATES
CRICKET AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, TEN NETWORK HOLDINGS LIMITED, FOX SPORTS AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, TENNIS AUSTRALIA

Rebranding a possibility for transformed Foxtel

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 4-Apr-18

News Corp has increased its stake in Foxtel to 65 per cent following the completion of the pay-TV company’s merger with Fox Sports. News Corp has indicated that integrating the two businesses is the immediate priority, and any decision on dropping the Foxtel branding is unlikely in the near-term. Foxtel may also launch new streaming services with their own branding, as part of its strategy to increase its customer base.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, 21ST CENTURY FOX INCORPORATED, SKY PLC, WALT DISNEY COMPANY

CA chases deals as Nine tipped for tennis losses

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Original article by Darren Davidson
The Australian – Page: 21 : 4-Apr-18

Citigroup forecasts that Nine Entertainment Company will lose between $A20m and $A30m per year on its coverage of Australian tennis. However, the firm notes that Nine is already losing about $A50m a year from its cricket coverage. The three commercial TV networks all hope to secure cricket broadcasting rights, with Cricket Australian expected to conclude negotiations for a new rights deal in early April. CA is also said to be close to securing a deal for pay-TV rights.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, CITIGROUP PTY LTD, CRICKET AUSTRALIA, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION, BIG BASH LEAGUE, DEUTSCHE BANK AG

Myer rules out using VA to exit leases

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 27-Mar-18

Struggling retailer Myer is saddled with $A2.7 billion worth of leases, and it has been suggested that it could enter into voluntary administration in order to get out of its lease commitments. Such a strategy was adopted by retailers OrotonGroup and SumoSalad. However, a spokesperson for Myer says it has no plans to enter into voluntary administration, noting that it continues to be solvent. Joe Hayes of Wexted Advisors says that entering into voluntary administration could create more problems for Myer than it might solve.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, OROTONGROUP LIMITED – ASX ORL, SUMO SALAD, WEXTED ADVISORS, McGRATH NICOL AND PARTNERS SERVICES PTY LTD

$200m hole in media rights feared as sponsors getting cold feet

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Original article by Nick Tabakoff
The Australian – Page: 6 & 7 : 27-Mar-18

Media analyst Greg Fraser says Cricket Australia was always unlikely to secure a $A1bn deal for broadcasting rights, but the ball-tampering scandal means it can expect to gain $A800m at best for its next rights deal. This includes no more than $A500m for rights to international cricket matches, but potentially more than $A300m for the domestic Twenty20 Big Bash League. Meanwhile, major sponsors of cricket in Australia have expressed disappointment over the scandal, although none are believed to have sought to terminate their deals as yet.

CORPORATES
CRICKET AUSTRALIA, BIG BASH LEAGUE, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, ACCENTURE AUSTRALIA LIMITED, QANTAS AIRWAYS LIMITED – ASX QAN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, LION PTY LTD, SANITARIUM HEALTH FOOD COMPANY, TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION

Leyonhjelm’s despair for erosion of press freedom

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Original article by Simon Benson
The Australian – Page: 2 : 26-Mar-18

Liberal Democrat senator David Leyonhjelm has accused the Abbott and Turnbull governments of the biggest crackdown on freedom of the press for many years through various laws. Leyonhjelm contends the crackdown began with Abbott in 2013, when Leyonhjelm says Abbott tried to make political mileage out of national security. Commenting on proposed espionage legislation that critics say could see journalists jailed for just doing their job, Attorney-General Christian Porter says he does not think any Australian would support the release of information that might risk the lives of ASIO or AFP staff or result in the death of an Australian.

CORPORATES
LIBERAL DEMOCRATIC PARTY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIAN FEDERAL POLICE, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN LABOR PARTY

CA rejection opens door to pay-TV deal

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Original article by Darren Davidson
The Australian – Page: 24 & 26 : 26-Mar-18

Cricket broadcasting rights are likely to be shared by the free-to-air and pay-TV sectors, after Cricket Australia rejected a joint bid by the Nine and Ten networks. CBS executive Armando Nunez has also met with Tennis Australia officials, although his priority is said to be retaining Ten’s broadcasting rights to Big Bash League matches. Meanwhile, Facebook and Google have declined to comment on whether they have expressed interest in acquiring cricket streaming rights.

CORPORATES
CRICKET AUSTRALIA, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION, BIG BASH LEAGUE, TENNIS AUSTRALIA, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, YOUTUBE INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, TELSTRA CORPORATION LIMITED – ASX TLS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Coles’ capital structure key to Wesfarmers demerger success

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 & 32 : 20-Mar-18

Wesfarmers will retain a shareholding of up to 20 per cent in Coles and a seat on its board if the proposed demerger proceeds. David Errington from Bank of America Merrill Lynch does not endorse this idea, saying it would be better for Coles long-term if it has an independent board and share register. Investors and analysts are of the view that the potential for Coles to succeed once the demerger is completed will depend largely on its balance sheet and capital structure.

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES SUPERMARKETS AUSTRALIA PTY LTD, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, WOOLWORTHS GROUP LIMITED – ASX WOW, KKR AND COMPANY LP, JP MORGAN AUSTRALIA LIMITED, PARADICE INVESTMENT MANAGEMENT PTY LTD, AIRLIE FUNDS MANAGEMENT PTY LTD

Journos reject spy risk claim for flawed law

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Original article by Dana McCauley
The Australian – Page: 26 & 28 : 19-Mar-18

Former Al Jazeera foreign correspondent Peter Greste has expressed concern about the potential impact of the Federal Government’s proposed espionage and foreign interference laws on freedom of speech. Media companies have also raised concerns about the limitations of the proposed laws in a new submission to federal parliament’s intelligence committee, while Law Council of Australia president Morry Bailes says the defence that reporting on an issue is in the public interest should be widened.

CORPORATES
AL JAZEERA, LAW COUNCIL OF AUSTRALIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, UNIVERSITY OF QUEENSLAND, COMMUNIST PARTY (CHINA)