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Free-to-air TV bosses strengthen calls for licence fee cuts

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Original article by Max Mason
The Australian Financial Review – Page: 2 : 28-Sep-16

The Australian Government’s May 2016 Budget included a 25 per cent reduction in TV broadcasting licence fees. Nine Entertainment Company’s submission to a Senate inquiry into the media reform bill has argued that a further reduction in licence fees should have priority over changes to cross-media ownership rules. The Ten Network noted in its submission that Australia’s broadcasting licence fees are still the highest in the world, while News Corp Australia called for broader media reform and changes to the anti-siphoning list for sports broadcasts.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Another massive diamond at Lucapa

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Original article by Paul Garvey
The Australian – Page: 23 : 27-Sep-16

Australian-listed Lucapa Diamond Company has revealed that its Lulo project in Angola has yield a 172.7-carat diamond. Chairman Miles Kennedy has suggested that the diamond could potentially sell for at least $US8m. Lucapa’s other recent discoveries at the Lulo project include a 104-carat diamond and a 38.6-carat pink diamond. The Lulo project yield 98 diamonds of at least 10 carats during July and August 2016.

CORPORATES
LUCAPA DIAMOND COMPANY LIMITED – ASX LOM, ENDIAMA, ROSAS AND PETALAS

Bauer pins its success on print

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Original article by Jake Mitchell
The Australian – Page: 21 : 27-Sep-16

Germany’s Bauer Media Group has reported sales of sales of EUR2.316bn ($A3.422bn) for calendar 2015, with its operations outside its home market contributing 66 per cent of group revenue. The magazine’s publisher’s print operations had global revenue of EUR1.689bn. This is 2.5 per cent lower than previously, but global CEO Yvonne Bauer is upbeat about the print business. Bauer’s Australian division has discontinued several titles since it was bought from Nine Entertainment Company in 2012.

CORPORATES
BAUER MEDIA KG, BAUER MEDIA AUSTRALIA PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM

TPG Telecom set to launch Fetch TV

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 26-Sep-16

TPG Telecom will join a number of other telcos – including its own iiNet subsidiary – in offering Fetch TV to its broadband customers. TPG CEO David Teoh says the pay-TV service will be available in coming months. TPG boasts 885,000 broadband customers, while iiNet has 983,000 broadband customers. There is a growing trend for telcos to bundle products such as broadband, pay-TV and telephone services as part of their strategy to retain customers.

CORPORATES
TPG TELECOM LIMITED – ASX TPM, FETCHTV PTY LTD, IINET LIMITED, DODO AUSTRALIA PTY LTD, M2 GROUP LIMITED, IPRIMUS, VOCUS COMMUNICATIONS LIMITED – ASX VOC, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, ASTRO MALAYSIA, AT&T CORPORATION, DIRECTV INCORPORATED, SKY NETWORK TELEVISION LIMITED – ASX SKT, VODAFONE NEW ZEALAND LIMITED, SKY PLC, 21ST CENTURY FOX INCORPORATED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN RUGBY FOOTBALL UNION, CRICKET AUSTRALIA, FOX SPORTS AUSTRALIA PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Grand finals fever delivers TV networks ad bonanza

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Original article by Darren Davidson, Jake Mitchell
The Australian – Page: 23 & 25 : 26-Sep-16

New figures show that the Seven Network’s coverage of the 2016 Australian Football League finals has attracted an average audience of 1.14 million per match, with some 443,000 tuning in to Fox Sports’ coverage. The Nine Network also enjoyed strong ratings for its coverage of the National Rugby League preliminary finals. The grand finals of the two codes are expected to boast bumper ratings and advertising revenue for the host broadcasters, with a 30-second ad tipped to cost up to $A100,000.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOX SPORTS AUSTRALIA PTY LTD, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, WESTERN BULLDOGS FOOTBALL CLUB, SYDNEY SWANS FOOTBALL CLUB, MELBOURNE STORM RUGBY LEAGUE CLUB LIMITED, CRONULLA SHARKS, NETFLIX INCORPORATED, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AUSTRALIAN ASSOCIATED MOTOR INSURERS LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, McDONALD’S AUSTRALIA LIMITED, WOOLWORTHS LIMITED – ASX WOW, GREATER WESTERN SYDNEY FOOTBALL CLUB, GEELONG FOOTBALL CLUB, BUNNINGS GROUP LIMITED, SPORTSBET AUSTRALIA, JIM BEAM BRANDS AUSTRALIA PTY LTD, KFC, NORTH QUEENSLAND COWBOYS, CANBERRA RAIDERS

Diversity laws ‘outdated’

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 26-Sep-16

Communications Minister Mitch Fifield argues that existing cross-media ownership laws are outdated as they were introduced before the development of the internet. He adds that the internet has made the issue of media diversity less important, and the continued viability of media companies is the greatest threat to diversity. The Senate committee that is reviewing the Federal Government’s media reform bill accepted submissions until 23 September 2016.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, ONE NATION PARTY

Media reform deadline looms

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Original article by Jake Mitchell
The Australian – Page: 19 : 22-Sep-16

The Senate inquiry into proposed cross-media ownership reforms is slated to report its findings on 7 November 2016. Media companies have been given until 23 September to update the submissions they made to a previous inquiry prior to the federal election. Meanwhile, the Opposition has signalled that its stance on abolition of the "two-of-three rule" has not changed following the retirement of Stephen Conroy, who supported retaining the regulation. The Australian Labor Party supports scrapping the "reach rule".

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. SENATE STANDING COMMITTEE ON ENVIRONMENT, COMMUNICATIONS, INFORMATION TECHNOLOGY AND THE ARTS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, NATIONAL RUGBY LEAGUE, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, NATIONAL FOOTBALL LEAGUE, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, LIBERAL PARTY OF AUSTRALIA

Wesfarmers’ top executive forgo $10m

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 22-Sep-16

Wesfarmers’ annual report for 2015-16 shows that the group’s lower earnings were reflected in the remuneration of its key executives. Group MD Richard Goyder received $A763,514 in base pay, or 30 per cent less than in the previous year. The underlying net profit of the Australian-listed conglomerate declined 3.6 per cent to $A2.3 billion in 2015-16 while net profit fell 83 per cent to $A407 million.

CORPORATES
WESFARMERS LIMITED – ASX WES, TARGET AUSTRALIA PTY LTD, COLES GROUP LIMITED, KMART AUSTRALIA LIMITED

Orocobre tips ongoing demand for lithium

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Original article by Paul Garvey
The Australian – Page: 22 : 20-Sep-16

Australian-listed Orocobre has posted a 2015-16 loss of $US21.9m ($A29m). However, CEO Richard Seville is upbeat about the outlook for lithium, and he believes that producers will struggle to meet growing global demand. Orocobre produced 6,903 tonnes of lithium in 2015-16, and the group forecasts output of at least 15,000 tonnes in 2016-17. It has also advised that its Salar de Olaroz project in Argentina should reach nameplate capacity in the current financial year.

CORPORATES
OROCOBRE LIMITED – ASX ORE, GALAXY RESOURCES LIMITED – ASX GXY, PILBARA MINERALS LIMITED – ASX PLS, NEOMETALS LIMITED – ASX NMT

Woolies’ ‘plan B’ on Masters exit

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Original article by Ben Butler, Ben Wilmot
The Australian – Page: 21 : 20-Sep-16

Documents filed in the Federal Court outline the strategies that Woolworths allegedly devised in order to withdraw from its Masters Home Improvement venture with Lowe’s. The US company is seeking to wind up the Masters joint venture company, Hydrox Holdings. Lowe’s claims that amongst other things, Woolworths made plans to terminate the joint venture agreement and sell Hydrox’s assets if the Lowe’s nominees on the Hydrox board did not agree to the sale of the joint venture company’s assets.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, LOWE’S COMPANIES INCORPORATED, HYDROX HOLDINGS PTY LTD, FEDERAL COURT OF AUSTRALIA, HOME TIMBER AND HARDWARE, KORDA MENTHA AND COLLEAGUES PTY LTD, CITIGROUP PTY LTD