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Gordon positions to increase Ten holding

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Original article by Max Mason
The Australian Financial Review – Page: 19 : 23-Jun-16

Cross-ownership laws prevent Bruce Gordon from increasing his 14.6 per cent stake in the Ten Network to more than 15 per cent. However, the WIN Corporation owner could potentially lift his stake in Ten by 2.5 per cent if media ownership laws are relaxed, after he secured a cash-settled share swap deal with Deutsche Bank. Gordon has previously entered a similar arrangement with the investment bank regarding Nine Entertainment Company.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, DEUTSCHE BANK AG, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BIRKETU PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

Can Myer shrink to greatness?

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Original article by James Thomson
The Australian Financial Review – Page: 16 : 21-Jun-16

Credit Suisse analyst Grant Saligari suggests that Australian-listed department store group Myer should reduce its floor space by up to 20 per cent. Saligari visited Myer’s stores at Doncaster, Eastland, Chadstone and Highpoint in Victoria and concluded that their trading space – at more than 12,000 sq m in each – is excessive. Improvements in customer services and refurbishment of stores are also necessary.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, CREDIT SUISSE (AUSTRALIA) LIMITED, BHP BILLITON LIMITED – ASX BHP

WIN playing hard ball on content deal

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Original article by Jake Mitchell
The Australian – Page: 23 : 20-Jun-16

The Tasmanian Digital Television joint venture between WIN Corporation and Southern Cross Media Group. TDT will broadcast the Ten Network’s programs until mid-2016, when the affiliation agreement between Ten and Southern Cross ends. Southern Cross’s switch to Nine Entertainment Company’s content in key regional markets in some mainland states means the future of Nine’s content in Tasmania is uncertain. WIN is believed to be reluctant to pay to broadcast Nine’s content in Tasmania as TDT is not profitable.

CORPORATES
TASMANIAN DIGITAL TELEVISION PTY LTD, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT

APN sale draws out rival bidders

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Original article by Jake Mitchell
The Australian – Page: 23 : 20-Jun-16

APN News & Media is hoping to sell its regional newspapers business for $A50m, although some observers believe that a lower price is likely. News Corporation and Singapore-based Fetch Plus are among the groups that have submitted binding offers to buy the Australia Regional Media business. News Corp Australia holds a 14.9 per cent stake in APN, and executive chairman Michael Miller is a former CEO of APN.

CORPORATES
APN NEWS AND MEDIA LIMITED – ASX APN, AUSTRALIAN REGIONAL MEDIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FETCH PLUS INCORPORATED PTE LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, AQUASIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, AUSTAR UNITED COMMUNICATIONS LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN, ABN AMRO AUSTRALIA LIMITED, NZME, FAIRFAX MEDIA LIMITED – ASX FXJ, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NEW ZEALAND. COMMERCE COMMISSION

Listeners are tuning in like never before

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Original article by Michael Bodey
The Australian – Page: 23 : 20-Jun-16

Many Australian radio programs have attracted record cumulative audiences in 2016, including Neil Mitchell’s talk show on 3AW in Melbourne and KIIS FM’s "Kyle & Jackie O". Duncan Campbell of the Australian Radio Network says the audience figures indicate that radio should not be underestimated. Data from Commercial Radio Australia shows that metropolitan radio attracted a cumulative weekly audience of 10.3 million in 2015.

CORPORATES
3AW SOUTHERN CROSS RADIO PTY LTD, KIIS1065, AUSTRALIAN RADIO NETWORK PTY LTD, NOVA 106.9 PTY LTD, ABC RADIO, 97.3 COAST FM, SMOOTHFM, MACQUARIE MEDIA LIMITED – ASX MRN, COMMERCIAL RADIO AUSTRALIA LIMITED, NOVA ENTERTAINMENT PTY LTD, MEDIA FEDERATION OF AUSTRALIA

Fetch TV renews Dodo deal, adds Presto, 9Now and Spike

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Original article by Max Mason
The Australian Financial Review – Page: 26 : 17-Jun-16

Pay television service Fetch TV has renewed its partnership with M2’s Dodo. Its platform has been expanded by the addition of new services such as Spike TV, subscription streaming service Presto and free-to-air streaming service 9Now. Fetch TV has a target of 600,000 subscribers by the end of 2016. In May 2016, it reached the figure of 400,000 subscribers.

CORPORATES
FETCHTV PTY LTD, DODO AUSTRALIA PTY LTD, M2 ENTERTAINMENT, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, SPIKE (AUSTRALIA) PTY LTD, PRESTO ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, ASTRO, FOXTEL MANAGEMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM

Watchdog outlines Fairfax-APN concerns

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Original article by Jake Mitchell, Daniel Palmer
The Australian – Page: 21 : 15-Jun-16

The New Zealand Commerce Commission has released a statement of preliminary issues regarding the proposed merger of the NZ businesses of Fairfax Media and APN News & Media. APN CEO Ciaran Davis recently expressed confidence that the regulator will recognise the need for local media companies to be able to compete with digital players such as Google. An independent expert’s report on the proposed merger between Vodafone NZ and Sky Network Television has also been released.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, APN NEWS AND MEDIA LIMITED – ASX APN, NEW ZEALAND. COMMERCE COMMISSION, NZME, SKY NETWORK TELEVISION LIMITED – ASX SKT, VODAFONE NEW ZEALAND LIMITED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, GRANT SAMUEL AND ASSOCIATES PTY LTD

SurfStitch class action looms over briefings

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Original article by Sue Mitchell
The Australian Financial Review – Page: 28 : 14-Jun-16

The disclosure practices of online retailer SurfStitch are under scrutiny in the wake of a large share price fall that reduced its market capitalisation by $A500m. The stock fell by 53 per cent to $A0.48 in early May 2016, in response to a profit downgrade. There had also been heavy selling in the previous week, after the group held private briefings for some shareholders. Glenn McGowan, a partner at law firm Gadens, may launch a class-action on behalf of SurfStitch shareholders.

CORPORATES
SURFSTITCH GROUP LIMITED – ASX SRF, GADENS LAWYERS, MORGAN STANLEY AUSTRALIA LIMITED, STAB, MAGICSEAWEED, GARAGE ENTERTAINMENT, SURF HARDWARE INTERNATIONAL PTY LTD

Shareholders get cut of Shaver Shop’s IPO

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Original article by John Stensholt
The Australian Financial Review – Page: 15 : 14-Jun-16

Shaver Shop is slated to debut on the sharemarket on 1 July 2016, following a $A98m IPO that is believed to have been significantly oversubscribed. The retailer posted EBIT of $A6.5m in 2014-15, which is forecast to rise to about $A11.5m in 2015-16, while its sales for the current fiscal year are expected to be around $A106m. Shaver Shop chairman Brodie Arnhold notes that all of its stores are profitable. The group aims to increase store numbers from 100 to 145 in the next three years.

CORPORATES
SHAVER SHOP PTY LTD, RIP CURL PTY LTD, QUIKSILVER INCORPORATED, MELBOURNE RACING CLUB

Godfreys backed for long-term

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Original article by Simon Evans
The Australian Financial Review – Page: 15 : 14-Jun-16

Shares in vacuum cleaner retailer Godfreys have fallen to $A1.015, compared with an issue price of $A2.75 in late 2014. However, major shareholder John Johnston is upbeat about the outlook for the group, and recently increased his stake to 24.9 per cent. He notes that there will always be demand for vacuum cleaners, while consumers are now replacing these appliances more frequently. Johnston has had an association with Godfreys since 1936.

CORPORATES
GODFREYS GROUP LIMITED – ASX GFY, SHAVER SHOP PTY LTD, ARCADE FINANCE PTY LTD, PACIFIC EQUITY PARTNERS PTY LTD, UNITAS CAPITAL PARTNERS PTY LTD, NOMURA AUSTRALIA LIMITED, INVESTEC AUSTRALIA LIMITED, JB HI-FI LIMITED – ASX JBH, MYER HOLDINGS LIMITED – ASX MYR, BIG W DISCOUNT STORES