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ASIC questions Korda’s Ten role

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Original article by Ben Butler
The Australian – Page: 19 : 18-Jul-17

The independence of KordaMentha as administrator of the Ten Network has come under scrutiny by the Australian Securities & Investments Commission and the Australian Restructuring Insolvency & Turnaround Association. The issue centres on KordaMentha’s role as an adviser to Ten prior to its collapse. ASIC and KordaMentha have supported a proposal for Peter Gothard of Ferrier Hodgson to undertake an independent investigation into whether the fees received by KordaMentha constituted a preference payment.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KORDA MENTHA AND COLLEAGUES PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN RESTRUCTURING INSOLVENCY AND TURNAROUND ASSOCIATION, FERRIER HODGSON AND COMPANY, FEDERAL COURT OF AUSTRALIA, GILBERT AND TOBIN LAWYERS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BIRKETU PTY LTD, ILLYRIA PTY LTD, ATANASKOVIC HARTNELL CORPORATE SERVICES PTY LTD

We’re the ratings big shot, Seven reminds doubters

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Original article by Darren Davidson
The Australian – Page: 24 : 17-Jul-17

Data from OzTAM shows that the Seven Network has won 25 of the 28 weeks so far in the 2017 TV ratings season. Seven’s director of programming Angus Ross is not unduly concerned about the ratings success of the Nine Network’s "Australian Ninja Warrior", noting that Seven is leading in all of the core age demographics. He is also upbeat about Seven’s program line-up for the second half of the year.

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SEVEN NETWORK LIMITEDSEVEN (WAN) PTY LTDNINE NETWORK AUSTRALIA LIMITEDNINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NECOZTAM PTY LTDNETFLIX INCORPORATEDSTAN ENTERTAINMENT PTY LTDAMAZON PRIME VIDEOWALT DISNEY COMPANYFACEBOOK INCORPORATEDGOOGLE INCORPORATEDYOUTUBE INCORPORATED

Nine kicks a ratings winner with Origin

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Original article by Stephen Brook
The Australian – Page: 3 : 14-Jul-17

Data from OzTAM shows that the Nine Network’s broadcast of the third rugby league State of Origin match boasted an average national audience of 3.66 million people on 12 July. This includes 2.49 million viewers in the five major capital cities and 1.12 million in regional areas. Nine lifted its audience share to 40.5 per cent as a result of the rugby league coverage, while Seven Network had a 10.8 per cent share of viewers.

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

Chile’s SQM invests in Kidman lithium project

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 13-Jul-17

Kidman Resources has sold a 50 per cent stake in its Earl Grey lithium deposit to Chile-based SQM for $A110m. The deal comprises a cash payment of $A30m, with the balance to be provided in the form of development funding. Rather than merely exporting lithium ore, Kidman and SQM intend to build a processing plant in Australia to convert the ore to lithium hydroxide. John Deniz of Paragon Funds Management says integrated projects are likely to be more resilient if demand for lithium eases.

CORPORATES
KIDMAN RESOURCES LIMITED – ASX KDR, SOCIEDAD QUIMICA Y MINERA SA, PARAGON FUNDS MANAGEMENT, MARINDI METALS LIMITED – ASX MZN, SUPREME COURT OF WESTERN AUSTRALIA, NEOMETALS LIMITED – ASX NMT, MINERAL RESOURCES LIMITED – ASX MIN, TIANQI LITHIUM CORPORATION

Nine puts hard word on CA for new rights deal

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Original article by Nick Tabakoff
The Australian – Page: 2 : 12-Jul-17

Nine Entertainment Company is said to be keen to secure a broadcasting rights deal for all cricket formats before the end of 2017. The Nine Network’s head of sport, Tom Malone, does not expect Cricket Australia’s pay dispute to have an impact on negotiations over broadcasting rights, which Nine wants to finalise quickly. Cricket Australia had expectations that the next five-year deal could be worth up to $A900m, although broadcasting rights experts suggest that about $A700m is more likely. The current deal is worth about $A600m.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, CRICKET AUSTRALIA, TEN NETWORK HOLDINGS LIMITED – ASX TEN, BIG BASH LEAGUE, AUSTRALIAN CRICKETERS’ ASSOCIATION

Local content slides at ABC

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Original article by Stephen Brook
The Australian – Page: 1 & 2 : 11-Jul-17

New figures show that the ABC produced 52 hours of drama in 2015-16, compared with 69 in 2012-13, while its output of factual programs fell from 547 hour to just 87. The ABC’s content budget fell by nine per cent over the four-year period. The ABC’s former head of TV, Kim Dalton, has claimed in the past that local content has become a lower priority for the public broadcaster since he stepped down in 2013. The ABC argues that it broadcasts more Australian-made content than its commercial rivals, and it should not be subject to local content quotas.

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AUSTRALIAN BROADCASTING CORPORATION, SCREEN PRODUCERS AUSTRALIA, AUSTRALIAN FILM COMMISSION, AUSTRALIAN GREENS, NETFLIX INCORPORATED, AMAZON.COM INCORPORATED

Kidman wins lithium fight against Marindi Metals

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 10-Jul-17

The Supreme Court of Western Australia has ruled in favour of Kidman Resources in a legal dispute over the Earl Grey lithium project. Marindi Metals had claimed that it had a binding deal to acquire the project’s lithium rights, which Kidman had disputed. The court found that there was no draft heads of agreement between Kidman and Marindi. Kidman MD Martin Donohue has welcomed the judgment, saying the company can now focus on developing Earl Grey and its other projects.

CORPORATES
KIDMAN RESOURCES LIMITED – ASX KDR, MARINDI METALS LIMITED – ASX MZN, SUPREME COURT OF WESTERN AUSTRALIA

‘I wouldn’t apologise for 50k,’ Harrison warns Seven

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Original article by Misa Han
The Australian Financial Review – Page: 2 : 10-Jul-17

Seven West Media is believed to have incurred legal costs of more than $A1m in its dispute with former employee Amber Harrison. Seven will seek to recover its full legal costs after insisting that Harrison must issue a public apology as part of a deal to settle the case. Harrison had offered to abandon legal action against Seven and accept a permanent suppression order, but with no apology or payment from Seven. The media group had offered to pay her $A50,000 to settle the dispute.

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SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, JOHNSON WINTER AND SLATTERY, AUSTRALIAN HUMAN RIGHTS COMMISSION, FEDERAL COURT OF AUSTRALIA

Fifield warns ALP on job losses

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Original article by Rosie Lewis
The Australian – Page: 24 : 10-Jul-17

Communications Minister Mitch Fifield has urged the Australian Labor Party to support cross-media ownership reforms, arguing that there is unanimous support within the media industry for change. Labor continues to oppose abolition of the "two-out-of-three" rule, and communications spokeswoman Michelle Rowland says the reforms would have been passed by Parliament long ago if the Government had dropped this aspect of its media package.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIAN GREENS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, FREE TV AUSTRALIA LIMITED, COMMERCIAL RADIO AUSTRALIA LIMITED

Fairfax steps up Domain hard sell

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Original article by Scott Murdoch
The Australian – Page: 24 : 10-Jul-17

Domain is losing market share to REA Group in some markets, which may make it harder for Fairfax Media directors to convince shareholders to back a proposed demerger of the property listings business. Demergers also have a chequered history in Australia. Analysis by Credit Suisse in 2015 shows that spin-offs generally perform well in their first six months as a separately-listed company, while there is typically no significant benefit for shareholders of the parent company during this period.

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FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, REA GROUP LIMITED – ASX REA, CREDIT SUISSE (AUSTRALIA) LIMITED, TRADE ME GROUP LIMITED – ASX TME, APN NEWS AND MEDIA LIMITED – ASX APN, NZME LIMITED – ASX NZM, AUSTRALIAN RADIO NETWORK PTY LTD, ADSHEL PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32, AMCOR LIMITED – ASX AMC, PAPERLINX LIMITED – ASX PPX, ARRIUM LIMITED – ASX ARI, BLUESCOPE STEEL LIMITED – ASX BSL, CSR LIMITED – ASX CSR, RINKER GROUP LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, TABCORP HOLDINGS LIMITED – ASX TAH, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG, TREASURY WINE ESTATES LIMITED – ASX TWE, TPG CAPITAL LP, HELLMAN AND FRIEDMAN, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE CAPITAL PTY LTD