Original article by Eli Greenblat
The Australian – Page: 23 : 31-Aug-16
SurfStitch reported a loss of more than $A155 million and an underlying EBITDA loss of $A18.8 million for 2015-16. The results of the Australian-listed online retailer included $A99.3 million in impairments to goodwill and aged inventory. Investors abandoned the company, with shares falling $A0.125, or 54.3 per cent, to $A0.105 on 31 August 2016.
CORPORATES
SURFSTITCH GROUP LIMITED – ASX SRF
Original article by Darren Davidson
The Australian – Page: 21 : 31-Aug-16
Bruce Gordon has raised his stake in Network Ten to 14.96 per cent, from 14.56 per cent. The transaction, involving ordinary shares and a derivative contract in Deutsche Bank, was executed via Gordon’s private investment vehicle Birketu. The billionaire believes that Ten shares are undervalued.
CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, BIRKETU PTY LTD, DEUTSCHE BANK AG, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, NETFLIX INCORPORATED, WIN TELEVISION PTY LTD
Original article by Jake Mitchell
The Australian – Page: 23 : 30-Aug-16
The Australian Government will push ahead with cross-media ownership media reforms after the policy was endorsed by the Coalition’s partyroom on 29 August 2016. The legislation will be introduced to Parliament within days, although the Government may need to rely on the support of crossbenchers as the Opposition has yet to decide its stance on abolishing the "two-out-of-three" rule. Media industry executives will also hold meetings with the major political parties and crossbenchers in coming days.
CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN WEST MEDIA LIMITED – ASX SWM, FOXTEL MANAGEMENT PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, PRIME MEDIA GROUP LIMITED – ASX PRT, WIN CORPORATION PTY LTD, HERALD AND WEEKLY TIMES LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL
Original article by Max Mason
The Australian Financial Review – Page: 29 : 29-Aug-16
Pay TV group Fox Sports could launch a dedicated cricket channel if it gains the broadcasting rights to some or all Big Bash League matches. Fox Sports is believed to be considering a bid for the domestic Twenty20 series, potentially in partnership with the Nine Network. Nine has previously expressed interest in the rights to the BBL, which has attracted strong ratings for the Ten Network. Fox Sports is also seeking rights to A-League and Socceroos matches.
CORPORATES
FOX SPORTS AUSTRALIA PTY LTD,{SPAC}BIG BASH LEAGUE,{SPAC}NINE NETWORK AUSTRALIA LIMITED,{SPAC}NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC,{SPAC}CRICKET AUSTRALIA,{SPAC}TEN NETWORK HOLDINGS LIMITED – ASX TEN,{SPAC}SEVEN WEST MEDIA LIMITED – ASX SWM,{SPAC}THE A LEAGUE PTY LTD,{SPAC}SOCCEROOS,{SPAC}TELSTRA CORPORATION LIMITED – ASX TLS,{SPAC}SINGTEL OPTUS PTY LTD,{SPAC}AUSTRALIAN FOOTBALL LEAGUE,{SPAC}NATIONAL RUGBY LEAGUE
Original article by Glenda Korporaal
The Australian – Page: 25 : 29-Aug-16
The Seven Network’s advertising revenue from its multi-platform coverage of the Rio de Janeiro Olympic Games is believed to have been within the range of $A100m to $A120m. Seven’s coverage included all three of its free-to-air channels and streaming via an Olympics app. Seven boasted a TV audience share of 45.8 per cent during the Games, compared with the Nine Network’s audience share of 40.8 per cent for its coverage of the London Olympics in 2012. Nine is said to have lost $A20m on its coverage.
CORPORATES
SEVEN ONLINE,{SPAC}SEVEN WEST MEDIA LIMITED – ASX SWM,{SPAC}NINE NETWORK AUSTRALIA LIMITED,{SPAC}NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC,{SPAC}HARVEY NORMAN HOLDINGS LIMITED – ASX HVN,{SPAC}DENTSU AEGIS MEDIA AUSTRALIA PTY LTD,{SPAC}WOOLWORTHS LIMITED – ASX WOW,{SPAC}TELSTRA CORPORATION LIMITED – ASX TLS,{SPAC}McDONALD’S AUSTRALIA LIMITED,{SPAC}SINGTEL OPTUS PTY LTD,{SPAC}TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED,{SPAC}FOXTEL MANAGEMENT PTY LTD
Original article by Jake Mitchell,{SPAC}Darren Davidson
The Australian – Page: 23 : 29-Aug-16
The Australian Government is expected to amend its cross-media ownership bill to change the local content requirement to take into account a regional network’s acquisition of a metropolitan broadcaster. The previous clause only applied to a metro network’s takeover of a regional counterpart. The revised bill is likely to be introduced when Parliament resumes, after being put to the Coalition’s communications backbench committee and the party room.
CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS,{SPAC}LIBERAL PARTY OF AUSTRALIA,{SPAC}NATIONAL PARTY OF AUSTRALIA,{SPAC}AUSTRALIAN LABOR PARTY,{SPAC}NICK XENOPHON TEAM,{SPAC}SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL,{SPAC}NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC,{SPAC}WIN CORPORATION PTY LTD,{SPAC}TEN NETWORK HOLDINGS LIMITED – ASX TEN
Original article by Max Mason
The Australian Financial Review – Page: 29 : 26-Aug-16
Nine Entertainment Company has posted a 2015-16 profit of $A324.8m. This compares with a loss of $A592.2m in 2014-15, although the prior result had been marred by write-downs totalling $A732.2 million. The media group’s 2015-16 underlying profit was down 7.1 per cent at $A120.3m and revenue fell by 6.5 per cent to $A1.3bn. CEO Hugh Marks says an increase in premium local content will be a priority for the Nine Network in 2017, after a disappointing ratings performance in 2016. Shareholders will receive a final dividend of $A0.04 per share.
CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, NIKKO ASSET MANAGEMENT GROUP, WARNER BROS, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, PROCTER AND GAMBLE COMPANY, SEVEN NETWORK LIMITED, CRICKET AUSTRALIA, NINE LIVE PTY LTD
Original article by James Thomson, Sarah Thompson, John Stensholt, Anthony Macdonald
The Australian Financial Review – Page: 15 & 22 : 25-Aug-16
Australian-listed retailer Woolworths has advised that its Masters Home Improvement stores will be closed by mid-December 2016. Woolworths will sell the Home Timber & Hardware business to Mitre 10 owner Metcash for $A165m. Meanwhile, the Home Consortium will pay $A725m for 61 Masters stores and 21 development sites, with plans to convert the stores into large-format retail centres with multiple tenants. In a separate deal, the Australian arm of US auction house Great American Group will pay about $A500m for the Masters hardware inventory.
CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, HOME TIMBER AND HARDWARE, METCASH LIMITED – ASX MTS, MITRE 10 LIMITED, HOME CONSORTIUM, GREAT AMERICAN GROUP, UBS HOLDINGS PTY LTD, SPOTLIGHT STORES PTY LTD, CHEMIST WAREHOUSE, AURRUM PTY LTD, ANACONDA STORES PTY LTD, JB HI-FI LIMITED – ASX JBH, THE GOOD GUYS, DAN MURPHY’S, BUNNINGS GROUP LIMITED, BAKER AND McKENZIE, THE BLACKSTONE GROUP LP, STOCKLAND – ASX SGP, CHARTER HALL GROUP – ASX CHC, VICINITY CENTRES – ASX VCX, MACQUARIE CAPITAL PTY LTD
Original article by Darren Davidson
The Australian – Page: 21 : 25-Aug-16
Pacific Magazines CEO Peter Zavecz will leave the Seven West Media-owned publisher on 30 September 2016, to take up the role of managing director, commercial at News Corp Australia’s Herald & Weekly Times subsidiary. Meanwhile, HWT’s executive general manager Peter Clark will join the newly-created News Digital Networks Australia division.
CORPORATES
NEWS CORP AUSTRALIA PTY LTD, HERALD AND WEEKLY TIMES LIMITED, NEWS CORPORATION – ASX NWS, PACIFIC MAGAZINES PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS DIGITAL NETWORK AUSTRALIA, NEWS LIFE MEDIA PTY LTD
Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 11 : 24-Aug-16
It is estimated that Woolworths’ petrol stations business could fetch between $A1.3bn and $A1.5bn. Dale Koenders of Citigroup believes that Caltex Australia is likely to be the only bidder for the fuel retailing business, and Caltex CEO Julian Segal says his company would be interested in the division if it is put on the market. Caltex also intends to trial revamped convenience stores at some of its petrol stations. The pilot stores will feature quick service restaurants, fresh food and barista-made coffee.
CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, WOOLWORTHS LIMITED – ASX WOW, MORGAN STANLEY AUSTRALIA LIMITED, INVESTORS MUTUAL LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, VIVA ENERGY AUSTRALIA LIMITED, VIVA ENERGY REIT – ASX VVR
ABIX 