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TV networks face slug for local content fund

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 15-Aug-17

The Australian Government is continuing to hold talks with Senate crossbenchers regarding its cross-media reform bill, which is slated to be debated on 15 August. The Greens remain open to negotiation, and the party has proposed that TV networks should be required to contribute to a "local content fund". This was a key recommendation of the Convergence Review in 2012. The Greens’ Sarah Hanson-Young has also advocated an increase in funding for the ABC and SBS, while One Nation wants their funding to be reduced.

CORPORATES
AUSTRALIAN GREENS, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Amazon will benefit us: Brambles chair

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Original article by Lisa Allen, Eli Greenblat
The Australian – Page: 19 : 14-Aug-17

Brambles chairman Stephen Johns says that although Amazon will be a "disruptive force" for Australian retailers, its entry into the local market could present an opportunity for the logistics group. He adds that the AmazonFresh business in particular should benefit Brambles’ CHEP and IFCO pallet operations. Morgan Stanley says department stores are likely to be hardest hit by Amazon’s arrival in Australia.

CORPORATES
BRAMBLES LIMITED – ASX BXB, AMAZON.COM INCORPORATED, AMAZONFRESH, CHEP AUSTRALIA, IFFCO GROUP OF COMPANIES, MORGAN STANLEY AUSTRALIA LIMITED, WESFARMERS LIMITED – ASX WES, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, JB HI-FI LIMITED – ASX JBH, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD

Fifield in legislative limbo with crossbench

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Original article by Darren Davidson
The Australian – Page: 24 & 26 : 14-Aug-17

The Federal Government is still holding talks with the Greens and Senate crossbenchers in a bid to secure support for its cross-media ownership reforms. Cory Bernardi, David Leyonhjelm and Derryn Hinch intend to support the bill, although the Government will require the support of another seven crossbenchers. Meanwhile, the Greens have expressed concern about One Nation’s proposal to undertake an expenditure review of the ABC and SBS. The bill is expected to be debated in the upper house in the week beginning 14 August.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN GREENS, ONE NATION PARTY, NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

Ten still faces headwinds with new owners

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 14-Aug-17

The deadline to submit bids for Ten Network is believed to be 18 August, with the aim of finalising a deal by the end of the month. US private equity firms and hedge funds are among those to have expressed interest in buying Ten, while the network’s acquisition by Lachlan Murdoch and Bruce Gordon would be conditional on cross-media ownership reforms being passed by the Senate. Meanwhile, industry observers note that Ten’s new owners will face a number of challenges, including a decline in the free-to-air advertising market.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, OAKTREE CAPITAL MANAGEMENT LLC, ANCHORAGE CAPITAL GROUP LLC, LONE STAR FUNDS, CBS CORPORATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, SMI MEDIA INCORPORATED, McKINSEY AND COMPANY, 21ST CENTURY FOX INCORPORATED, ENDEMOL SHINE AUSTRALIA PTY LTD, MULTI CHANNEL NETWORK PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, CRICKET AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Nick Scali dives after caution on outlook

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Original article by Eli Greenblat
The Australian – Page: 19 : 11-Aug-17

Listed furniture retailer Nick Scali has posted a 2016-17 net profit of $A37.2m, which is 42.4 per cent higher than previously, while revenue rose by 14.7 per cent to $A232.9m. Same-store sales rose by 10 per cent, but MD Anthony Scali expects lower growth in 2017-18, noting that economic conditions and the housing market have a direct impact on furniture retailers. Shareholders will receive a fully franked final dividend of $A0.20 per share, and a full-year payout of $A0.34.

CORPORATES
NICK SCALI LIMITED – ASX NCK, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Hanson’s media bill demands rejected

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Original article by Rosie Lewis
The Australian – Page: 4 : 9-Aug-17

The Australian Government has signalled that it may be open to supporting some of the Senate crossbenchers’ proposed amendments to it cross-media ownership reform bill. These include the Nick Xenophon Team’s push for an inquiry into the growing market power of Google and Facebook and a 40 per cent tax break for smaller news publishers. However, Communications Minister Mitch Fifield is unlikely to support One Nation’s push for the costs of the ABC and SBS to be reviewed.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN GREENS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Macquarie Media lifts despite Jones absence

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Original article by Stephen Brook
The Australian – Page: 25 : 9-Aug-17

Macquarie Media has posted a 2016-17 after-tax profit of $A17.32m, which is 21 per cent higher than previously. Group revenue was two per cent lower at $A131.11m, which has been primarily attributed to a downturn in royalty and contra revenues. Macquarie’s revenue was also affected by an extended leave of absence by 2GB presenter Alan Jones on medical grounds. Shareholders will receive a fully franked final dividend of $A0.04 per share.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, RADIO 2UE SYDNEY PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, SATELLITE MUSIC AUSTRALIA PTY LTD

Woolies customers fume after being charged twice

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Original article by Sue Mitchell
The Australian Financial Review – Page: 18 : 8-Aug-17

Payments processor Cuscal has accepted responsibility for an error which saw customers of Woolworths billed twice for the same purchase. The problem affected purchases made at various Woolworths units, including BWS, Big W and its petrol stations. Affected customers had paid for transactions as long ago as March 2017 with their Visa cards, and were billed for the same transactions again in early August. Many irate customers were quick to vent their anger at Woolworths.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, CUSCAL AUSTRALIA PTY LTD, BWS – BEER WINE SPIRITS, BIG W DISCOUNT STORES

Media companies soar ahead of vote

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Original article by Lucy Battersby
The Age – Page: 25 : 8-Aug-17

The Australian Government’s cross-media ownership reform bill is slated to be debated in the Senate on 9 August. Shares in some media companies have rallied in the lead-up to the resumption of Parliament. Prime Media Group’s shares have gained 16.5 per cent in the last two weeks, amid speculation that the regional TV broadcaster would become a takeover target if media laws are relaxed. Shares in Nine Entertainment Company, Southern Cross Media Group Fairfax Media have also risen in the last week.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, STAN ENTERTAINMENT PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, MORNINGSTAR PTY LTD, TRIPLE M CORPORATION PTY LTD, HIT NETWORK, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Fifield to broker media deal with Greens or One Nation

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 7-Aug-17

The Australian Government’s cross-media ownership reform bill is slated to be debated in the Senate on 9 August. The Government is said to be confident of negotiating a deal with either the Greens or One Nation to support the bill. The Greens have previously been opposed to abolition of the "two out of three" rule. However, the party may be prepared to back the bill if there are measures to protect media diversity, which is also a key issue for the Nick Xenophon Team.

CORPORATES
AUSTRALIAN GREENS, ONE NATION PARTY, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)