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Nine facing backlash over pay

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Original article by Jake Mitchell
The Australian – Page: 23 : 14-Nov-16

Nine Entertainment Company could incur a first "strike" against its remuneration report at the 2016 AGM. WIN Corporation owner Bruce Gordon controls 14.9 per cent of Nine’s shares, while Perpetual has a 14.2 per cent stake. WIN has lobbied the fund manager to vote against the report, although Institutional Shareholder Services and the Australian Shareholders’ ­Association have recommended that investors vote in favour of the report. However, the salary of Nine chairman Peter Costello is expected to attract scrutiny.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NECWIN CORPORATION PTY LTDBIRKETU PTY LTDPERPETUAL LIMITED – ASX PPTINSTITUTIONAL SHAREHOLDER SERVICES INCORPORATEDAUSTRALIAN SHAREHOLDERS’ ASSOCIATIONSOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXLFAIRFAX MEDIA LIMITED – ASX FXJ

Canberra stand-off puts reform on hold

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Original article by Darren Davidson
The Australian – Page: 23 & 25 : 14-Nov-16

Communications Minister Mitch Fifield has conceded that the Federal Government’s cross-media ownership bill may be delayed until early 2017 after the Australian Labor Party opposed scrapping the "two-out-of three"" rule. Fifield has downplayed Labor’s concerns about the impact on diversity of ownership, arguing that other cross-media rules will be retained. He also notes that media groups such as News Corp and Fairfax support the reforms, and says a further reduction in broadcasting licence fees could be possible.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTSAUSTRALIAN LABOR PARTYNEWS CORP AUSTRALIA PTY LTDNEWS CORPORATION – ASX NWSFAIRFAX MEDIA LIMITED – ASX FXJSEVEN WEST MEDIA LIMITED – ASX SWMTEN NETWORK HOLDINGS LIMITED – ASX TENFOXTEL MANAGEMENT PTY LTDCRICKET AUSTRALIAAUSTRALIAN FOOTBALL LEAGUENATIONAL RUGBY LEAGUEAUSTRALIAN COMPETITION AND CONSUMER COMMISSIONAUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINETGOOGLE INCORPORATEDFACEBOOK INCORPORATEDKLEINER PERKINS CAUFIELD AND BYERS

MPs slam ABC US election bias

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Original article by Sam Buckingham-JonesDarren Davidson
The Australian – Page: 23 & 25 : 14-Nov-16

ABC television and radio presenters are under scrutiny for posting comments that were critical of US president-elect Donald Trump in the lead-up to the election and on election day itself. Former chairman ­Maurice Newman says ABC MD Michelle Guthrie should seek to ensure that the public broadcaster has greater diversity of opinion, arguing that its current affairs and comedy programs have a "demonstrable" left-wing bias. Ex- prime minister Tony Abbott says the ABC lacks "intellectual diversity".

CORPORATES
AUSTRALIAN BROADCASTING CORPORATIONTWITTER INCORPORATEDAUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTSLIBERAL PARTY OF AUSTRALIANETFLIX INCORPORATED

Seven earnings to fall up to 20pc

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 10-Nov-16

Seven West Media chairman Kerry Stokes says broadcasting licence fees and government subsidies for TV production are more important issues than proposed reforms to cross-media ownership laws. Meanwhile, the 2016 AGM has been told that Seven’s underlying EBIT for 2016-17 could be up to 20 per cent lower than previously, as the advertising market remains subdued. Macquarie Group expects a two per cent decline in the TV advertising market in 2016-17.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN FOOTBALL LEAGUE

Media law changes rest in crossbenchers’ hands

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Original article by Primrose Riordan
The Australian Financial Review – Page: 9 : 9-Nov-16

Communications Minister Mitch Fifield has criticised the Australian Labor Party for its stance on cross-media owership reform. Labor will vote against legislation to abolish the "two-out-of-three rule", arguing that it will lead to greater consolidation in the media sector and reduced diversity of voices. Although Labor supports scrapping the "reach rule", the Government will need the support of at least eight Senate crossbenchers for its media reform bill.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, NETFLIX INCORPORATED

Senate committee backs media bill

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Original article by Jake Mitchell
The Australian – Page: 4 : 8-Nov-16

The Senate environment and communications legislation committee has released its report on proposed changes to cross-media ownership laws. It has recommended that the upper house vote in favour of abolishing the "reach rule" and the "two-out-of-three" rule, although Australian Labor Party members of the committee opposed the latter reform. Labor believes that scrapping the "two-out-of-three" rule would particularly benefit News Corp Australia. However, the party supports another reduction in TV broadcasting licence fees.

CORPORATES
AUSTRALIA. SENATE ENVIRONMENT AND COMMUNICATIONS LEGISLATION COMITTEE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Media bill in hands of crossbench

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Original article by Max Mason
The Australian Financial Review – Page: 27 : 7-Nov-16

The Senate Environment & Communications Legislation Committee’s report on its inquiry into proposed cross-media ownership reforms is slated to be released on 7 November 2016. The committee is expected to recommend that the upper house should vote in favour of the bill. However, the Federal Government is likely to require the support of nine crossbenchers, as the Australian Labor Party and the Greens may oppose abolition of the "two out of three rule".

CORPORATES
AUSTRALIA. SENATE ENVIRONMENT AND COMMUNICATIONS LEGISLATION COMITTEE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, HIGH COURT OF AUSTRALIA

ABC Netflix deal angers rivals

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Original article by Jake Mitchell
The Australian – Page: 23 & 25 : 7-Nov-16

An ABC spokesman has defended the public broadcaster’s decision to produce a second series of drama "Glitch" in partnership with Netflix. The US-based subscription video-on-demand provider is believed to be contributing about 15 per cent of the production costs. Netflix will stream the series outside of the Australian market at the same time as it is broadcast by the ABC. The deal has been questioned by Seven West Media CEO Tim Worner and Nine Entertainment Company CEO Hugh Marks.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NETFLIX INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD, NICK XENOPHON TEAM, FILM VICTORIA, NBC UNIVERSAL INCORPORATED

Domain slump only ‘temporary’

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 4-Nov-16

Fairfax Media CEO Greg Hywood warned shareholders at the company’s AGM on 3 November 2016 that Domain’s first half EBITDA will be lower when compared with the previous corresponding period. Hywood described the decline in EBITDA as temporary and stressed that the outlook for Domain is positive. Fairfax shares closed 4.3 per cent lower at $A0.775 on 4 November 2016.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, REA GROUP LIMITED – ASX REA, NEWS CORPORATION – ASX NWS

Heads of ABC at odds on pay deal

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Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 3-Nov-16

The ABC’s new enterprises bargaining agreement has come under scrutiny, with some executives questioning whether the public broadcaster is required to comply with the Federal Government’s workplace bargaining policy. ABC chairman Jim Spigelman has told Australian Public Service Commissioner John Lloyd that the broadcaster’s board does not believe that it is required by law to comply with this policy. However, ABC MD Michelle Guthrie told Employment Minister Michaelia Cash in August that the EBA negotiations comply with government policy.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN PUBLIC SERVICE COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS