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News Corp sees a property-led future

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Original article by Max Mason
The Australian Financial Review – Page: 14 : 10-Aug-16

Media giant News Corporation has posted a 2015-16 profit of $US179m, compared with a $US147m loss in 2014-15. Group revenue was three per cent lower at $US8.3bn, while its newspaper division’s revenue was down seven per cent at $US5.3bn. However, revenue at its digital real estate services business rose by 32 per cent to $US822m. This division includes property listings businesses such as REA Group and Realtor.com. News Corp CEO Robert Thomson expects the division to become the group’s biggest source of earnings.

CORPORATES
NEWS CORPORATION – ASX NWS, REA GROUP LIMITED – ASX REA, REALTOR.COM, MOVE INCORPORATED, IPROPERTY GROUP LIMITED, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS AMERICA MARKETING INCORPORATED, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE GROUP LIMITED – ASX MQG, THE GOLDMAN SACHS GROUP INCORPORATED, TELSTRA CORPORATION LIMITED – ASX TLS

Media law overhaul made priority for Parliament

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Original article by Primrose Riordan
The Australian Financial Review – Page: 4 : 9-Aug-16

The Australian Government will press ahead with cross-media ownership reforms when Parliament resumes on 30 August 2016. There is support within the Australian Labor Party to scrap the "reach rule", although some members of the Opposition have reservations about abolishing the "two-out-of-three" rule. The proposed reforms will include local content requirements for regional broadcasters.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIA. SENATE STANDING COMMITTEE ON ENVIRONMENT, COMMUNICATIONS, INFORMATION TECHNOLOGY AND THE ARTS

Digital helps Seven attract Olympics audience

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Original article by John Stensholt
The Australian Financial Review – Page: 7 : 9-Aug-16

The Seven Network’s TV broadcast of the 2016 Rio de Janeiro Olympic Games opening ceremony was watched by 1.61 million viewers in Australia’s five main capital cities. Meanwhile, Seven’s streaming coverage attracted 4.1 million viewers during the first two days of the Games, including a record 2.8 million streams on the second day. Seven has conceded that there have been problems with its streaming up, which it attributes to global demand for streaming services.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, OLYMPIC BROADCASTING SERVICES, AUSTRALIAN OPEN TENNIS, AUSTRALIAN FOOTBALL LEAGUE

Fairfax mulls sale of regional newspapers

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Original article by Jake Mitchell
The Australian – Page: 21 & 24 : 9-Aug-16

Fairfax Media has declined to comment on speculation that it could divest the Australian Community Media division. The media group is said to have held talks with Platinum Equity about buying its portfolio of regional newspapers, which was primarily acquired via the 2007 merger with Rural Press. Fairfax already proposes to sell its New Zealand newspaper assets to NZME.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN COMMUNITY MEDIA, RURAL PRESS LIMITED, NZME LIMITED – ASX NZM, APN NEWS AND MEDIA LIMITED – ASX APN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN REGIONAL MEDIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PLATINUM EQUITY HOLDINGS, SENSIS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS

Network Ten’s recovery by design

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Original article by Max Mason
The Australian Financial Review – Page: 30 : 8-Aug-16

The Ten Network’s shares of free-to-air TV advertising revenue rose to 25.2 per cent in the first six months of 2016, compared with just 20.1 per cent in early 2014. Maxus CEO Mark McCraith says the consistency of Ten’s programming has been a major contributor to the network’s increased ratings. Meanwhile, Ten’s chief programming officer Beverley McGarvey stresses the importance of selecting the right host for popular shows like "Family Feud".

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, MAXUS AUSTRALIA PTY LTD, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, KPMG AUSTRALIA PTY LTD, MULTI CHANNEL NETWORK PTY LTD, FOXTEL MANAGEMENT PTY LTD, PHD CREATIVE PTY LTD, THINK TV, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NETFLIX INCORPORATED, YOUTUBE INCORPORATED

Frustrated WIN targets Marks

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Original article by Jake Mitchell, Darren Davidson
The Australian – Page: 18 & 20 : 8-Aug-16

Nine Entertainment Company’s share price has shed 36.2 per cent since Hugh Marks succeeded David Gyngell as CEO in November 2015. Meanwhile, its share of free-to-air advertising revenue fell from 38.6 per cent to 35.6 per cent during the first half of 2016. WIN Corporation is said to have lobbied fellow large Nine shareholder Perpetual to support a push to oust Marks and Nine’s board of directors.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, WIN CORPORATION PTY LTD, PERPETUAL LIMITED – ASX PPT, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SEVEN NETWORK LIMITED, MAPLE-BROWN ABBOTT LIMITED, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, APOLLO GLOBAL MANAGEMENT LLC, KPMG AUSTRALIA PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, FOX SPORTS AUSTRALIA PTY LTD, NATIONAL RUGBY LEAGUE

The Project ‘really firing’ for WIN

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Original article by Max Mason
The Australian Financial Review – Page: 31 : 8-Aug-16

There has been strong growth in regional audiences for the Ten Network’s TV programs since WIN Corporation switched affiliation partners in July 2016. WIN CEO Andrew Lancaster notes that shows such as "The Project" and "Have You Been Paying Attention?" in particular have been popular with WIN viewers. Meawhile, Southern Cross Media Group says its ratings and revenue were better than expected in July, when its affiliation deal with the Nine Network commenced.

CORPORATES
WIN CORPORATION PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NATIONAL RUGBY LEAGUE, KPMG AUSTRALIA PTY LTD, FREE TV AUSTRALIA LIMITED, REGIONAL TAM PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT

Murdoch quells Fox News concerns after Ailes departure

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Original article by Jake Mitchell
The Australian – Page: 23 : 5-Aug-16

21st Century Fox has posted a net profit of $US2.8bn ($A3.7bn) for fiscal 2016, compared with $US8.4bn previously, although the prior result was bolstered by asset sales. The media group’s EBITDA rose by two per cent to $US6.6bn, while revenue was one per cent higher at $US27.3bn. 21st Century Fox’s co-executive chairman Lachlan Murdoch has stressed that the resignation of Fox News CEO Roger Ailes will have no effect on the cable news channel’s editorial position or strategic direction.

CORPORATES
21ST CENTURY FOX INCORPORATED, FOX NEWS, DIRECT BROADCAST SATELLITE TELEVISION, SKY ITALIA SPA, SKY DEUTSCHLAND AG, SKY PLC, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD

Shut weekday print, investor tells Fairfax

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Original article by Damon Kitney, Jake Mitchell
The Australian – Page: 21 : 3-Aug-16

Australian businessman Alex Waislitz owns more than two per cent of Fairfax Media’s shares, via Thorney Investment Group and the listed Thorney Opportunities. He says that scrapping the weekday print editions of "The Age" and "The Sydney Morning Herald" is in the best interests of Fairfax and its shareholders, and CEO Greg Hywood should accelerate plans to do so. Waislitz has also welcomed Fairfax’s move to release separate earnings data for its Domain property listings business, and he says Fairfax should undertake a share buyback.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, THORNEY OPPORTUNITIES LIMITED – ASX TOP, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, NZME LIMITED – ASX NZM, APN NEWS AND MEDIA LIMITED – ASX APN

Seven earnings plunge but Worner bets on old media comeback

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Original article by Darren Davidson
The Australian – Page: 19 : 3-Aug-16

Shares in Seven West Media and Nine Entertainment Company fell sharply on 2 August 2016, after the former issued a profit warning. Seven has advised that its underlying EBIT for 2016-17 will be 15-20 per cent lower than previously, citing factors such as a slowdown in the advertising market and the rising cost of sports broadcasting rights. Meanwhile, Seven has booked a net profit of $184.3m for the year to 25 June 2016, following a loss of $A1.89bn in 2014-15.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, 7PRODUCTIONS, 7WONDER, 7BEYOND, AUSTRALIAN FOOTBALL LEAGUE