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Telstra seeks Foxtel merger finetune

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Original article by Darren Davidson, Supratim Adhikari
The Australian – Page: 20 : 16-Feb-18

The Foreign Investment Review Board and the Australian Competition & Consumer Commission have approved the merger of Fox Sports and Foxtel. However, Telstra CEO Andy Penn says there are still some fine points to be worked out. Telstra’s stake in the merged entity will fall from 50 per cent to 35 per cent, with News Corporation to own 65 per cent. News and Telstra have indicated that they hope to complete the Foxtel-Fox Sports merger by the end of March. Meanwhile, Foxtel has reported 1.7 per cent growth in subscribers during the six months to December 2017.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, TELSTRA CORPORATION LIMITED – ASX TLS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE

Myer in disarray as CEO axed

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Original article by Eli Greenblat
The Australian – Page: 17 & 20 : 15-Feb-18

Listed department store group Myer Holdings has sacked CEO Richard Umbers after issuing its third profit downgrade in less than 12 months. However, executive chairman Garry Hounsell says the group will persist with the "new Myer" turnaround strategy that Umbers launched in 2015, despite the fact that its targets have not been met. Major shareholder Premier Investments has renewed its criticism of Myer in the wake of Umbers’ departure, and argues that the entire board needs to be replaced.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV, TPG CAPITAL LP

Upbeat Miller sets digital course

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Original article by Darren Davidson
The Australian – Page: 24 & 26 : 12-Feb-18

News Corp Australia boasted 389,600 digital subscribers at the end of the December 2017 quarter, an increase of 26 per cent year-on-year. Executive chairman Michael Miller describes digital subscriptions as a "huge opportunity" for the media group, noting that this market is recording annual growth of 20 per cent. Millers adds that the merger between Foxtel and Fox Sports is progressing, while he also says News Corp is open to mergers and acquisitions, including free-to-air TV networks.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, NETFLIX INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN REGIONAL MEDIA, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Labor backs changes to protect journalists

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Original article by Greg Brown
The Australian – Page: 2 : 9-Feb-18

Opposition Leader Bill Shorten has welcomed the Federal Government’s decision to provide greater protection for journalists in its proposed espionage laws. Attorney-General Christian Porter has indicated that journalists will not face prosecution for publishing classified information if they had believed that doing so was in the public interest. The media industry had expressed concern that journalists could face criminal prosecution for receiving classified information.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT

Pay TV exemption for gambling ads riles rival broadcasters

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Original article by Andrew Tillett
The Australian Financial Review – Page: 2 : 8-Feb-18

Free-to-air TV networks have urged the Federal Government to ensure a level playing field regarding its a ban on gambling advertisements during live sports broadcasts. The Australian Subscription Television & Radio Association wants an exemption from the ban for pay-TV sports channels that have low ratings, arguing that they are mainly watched by adults. The proposed exemption, which is outlined in ASTRA’s new draft code of practice for pay-TV, is also opposed by the Greens, the Nick Xenophon Team and Responsible Wagering Australia.

CORPORATES
AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, AUSTRALIAN GREENS, NICK XENOPHON TEAM, RESPONSIBLE WAGERING AUSTRALIA, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, SPORTSBET AUSTRALIA, LADBROKES, CROWNBET PTY LTD, BETFAIR AUSTRALIA PTY LTD

Spy laws: New A-G concedes ground

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Original article by Simon Benson, Nicola Berkovic
The Australian – Page: 1 & 8 : 8-Feb-18

The Federal Government has responded to the media industry’s concerns about its proposed foreign interference laws by agreeing to some safeguards for journalists. Attorney-General Christian Porter has advised that journalists who receive classified information will only face criminal prosecution under certain circumstances, such as if reporting on the information could potentially affect public safety or pose a threat to national security. However, commonwealth officers who leak confidential information will not receive any such exemption.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, LAW COUNCIL OF AUSTRALIA, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIAN FEDERAL POLICE, ASHURST AUSTRALIA

Wesfarmers hit as Bunnings UK bleeds

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Original article by Eli Greenblat
The Australian – Page: 17 & 20 : 6-Feb-18

Perth-based conglomerate Wesfarmers has announced some $A1.3bn worth of writedowns associated with the Target discount department store chain and the fledgling Bunnings operations in the UK. Wesfarmers CEO Rob Scott is optimistic that Bunnings UK can become profitable, but a sweeping review of the business will be undertaken which could potentially result in its sale or closure. Scott has vowed that Wesfarmers will act quickly and decisively on the outcome of the review of its Bunnings UK business.

CORPORATES
WESFARMERS LIMITED – ASX WES, BUNNINGS GROUP LIMITED, TARGET AUSTRALIA PTY LTD, WOOLWORTHS LIQUOR, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, ARGO INVESTMENTS LIMITED – ASX ARG

Fairfax and NZME fight for merger

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Original article by Max Mason
The Australian Financial Review – Page: 24 : 6-Feb-18

NZME says an appeal against the High Court of New Zealand’s decision to block a proposed merger with Fairfax NZ will focus on the court’s assessment of the deal’s impact on media plurality. The court upheld the NZ Commerce Commission’s decision in May 2017 to block the deal, although NZME notes that the court found that the merger would have more quantifiable net benefits to the public than had been estimated by the NZCC. Fairfax Media will also challenge the court’s decision.

CORPORATES
NZME LIMITED – ASX NZM, FAIRFAX MEDIA LIMITED – ASX FXJ, FAIRFAX NEW ZEALAND LIMITED, NEW ZEALAND. COMMERCE COMMISSION, HIGH COURT OF NEW ZEALAND

New spy laws to hinder legitimate work of media

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Original article by Ean Higgins
The Australian – Page: 1 & 5 : 6-Feb-18

Attorney-General Christian Porter has conceded that some changes to proposed foreign interference laws may be needed to alleviate the concerns of the media industry. Robert Todd of law firm Ashurst has warned that the laws as presently drafted could potentially make a wide range of persons criminally liable for dealing with confidential information. He says the proposed laws provide very limited protection for journalists, while there would be almost no protection for other people, including social media users.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, ASHURST AUSTRALIA, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

News leaders unite to resist spy laws that could criminalise journalism

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Original article by Dana McCauley
The Australian – Page: 24 & 26 : 5-Feb-18

The media industry has expressed concern about the broader implications of the Federal Government’s foreign interference bill on freedom of the press. Paul Whittaker, the editor-in-chief of "The Australian", says journalists could breach the new offence of handling classified information simply by seeking to confirm the validity of a document they have received. "Herald Sun" editor Damon Johnston warns that the legislation could potentially be used by a future government to silence the media, while the ABC’s John Lyons argues that media companies already have sufficient procedures in place for handling confidential information.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN BROADCASTING CORPORATION, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, UNIVERSITY OF TECHNOLOGY, SYDNEY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET