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Murdoch’s media pay least tax

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 9 : 6-Jan-16

Data from the Australian Taxation Office shows that 10 media companies paid no income tax in Australia in 2014. Eight of these companies are either owned or partly-owned by members of the Murdoch family. These include Ten Network, Nova Entertainment and two companies owned by News Corporation. Nine Entertainment Company and BBC Worldwide Australia Holdings also paid no tax in 2014, while Fairfax Media’s total tax bill for the year was $A16m.

CORPORATES
AUSTRALIAN TAXATION OFFICE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NOVA ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BBC WORLDWIDE AUSTRALIA HOLDINGS, FAIRFAX MEDIA LIMITED – ASX FXJ, FOXTEL MANAGEMENT PTY LTD, NEWS AUSTRALIA HOLDINGS PTY LTD, NEWS AUSTRALIA INVESTMENTS PTY LTD, NEWS PAY TV FINANCING PTY LTD, 21ST CENTURY FOX INCORPORATED, APN NEWS AND MEDIA LIMITED – ASX APN, REA GROUP LIMITED – ASX REA, FOXTEL HOLDINGS PTY LTD, XYZNETWORKS PTY LTD, FOX FILMED ENTERTAINMENT AUSTRALIA PTY LTD, SHINE AUSTRALIA HOLDINGS PTY LTD

Dick Smith bankers call in receivers

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Original article by John Durie, Kylar Loussikian
The Australian – Page: 14 & 16 : 5-Jan-16

Dick Smith Holdings went into voluntary administration on 4 January 2016, after the listed consumer electronics retailer’s shares were placed in a trading halt. National Australia Bank and HSBC have also appointed receivers from Ferrier Hodgson to the embattled group. Dick Smith shares were trading at $A0.35 on 31 December 2015, having reached a low of $A0.20 earlier in the month. The company was listed on the sharemarket at $A2.20 in late 2013.

CORPORATES
DICK SMITH HOLDINGS LIMITED – ASX DSH, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, HSBC AUSTRALIA HOLDINGS PTY LTD, FERRIER HODGSON AND COMPANY, LION NATHAN LIMITED, GEORGE WESTON FOODS LIMITED, WILLIAM ROBERTS LAWYERS, MYER HOLDINGS LIMITED – ASX MYR, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, FORAGER FUNDS MANAGEMENT PTY LTD, ANCHORAGE CAPITAL PARTNERS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Let market decide local content

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Original article by Dean Smith
The Australian Financial Review – Page: 38 : 4-Jan-16

Abolishing the "reach rule" is on the Australian Government’s agenda in 2016, with general consensus that it is no longer relevant. The "two-out-of-three rule" may also be scrapped, and the issue of local content in regional areas has now become a key focus of the debate on cross-media ownership reform. Regional TV broadcasters have proposed that a minimum level of local content must be maintained if cross-media laws are abolished. However, the Government must avoid replacing existing media regulations with new ones that may prove to be equally onerous.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, IMPARJA TELEVISION PTY LTD, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Scott’s media skills ‘crucial’

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Original article by Michael Bodey
The Australian – Page: 3 : 23-Dec-15

Media and journalism experience was given a relatively low priority in the selection criteria for the successor to ABC MD Mark Scott. However, former members of the public broadcaster’s board have said that Scott’s editorial experience at Fairfax Media had been a key factor in the decision to appoint him to the role in 2006. Scott will step down in May 2016.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, FAIRFAX MEDIA LIMITED – ASX FXJ, NEW SOUTH WALES. STATE RAIL AUTHORITY

ABC boss looks at options for ‘monetisation’

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Original article by Dominic White
The Australian Financial Review – Page: 11 : 22-Dec-15

Google executive Michelle Guthrie will succeed ABC MD Mark Scott in May 2016. She has indicated that budgetary limitations may require the public broadcaster to consider new ways to make money from its content, and she has not ruled out options such as paywalling online content or introducing advertising to its TV channels. Guthrie will hold the dual roles of MD and editor-in-chief.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, GOOGLE INCORPORATED, NEWS CORPORATION – ASX NWS, NEWS INTERNATIONAL PLC, FOXTEL MANAGEMENT PTY LTD, STAR TV, SEVEN WEST MEDIA LIMITED – ASX SWM, SKY PLC, ALLENS, HONG KONG TELECOMMUNICATIONS LIMITED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Nine batting for stronger Windies at Boxing Day, new year Tests

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Original article by Max Mason
The Australian Financial Review – Page: 14 : 21-Dec-15

Carat Australia CEO Simon Ryan is confident that the Nine Network will attract good ratings for its cricket coverage during the 2015-16 summer. The First Test against the West Indies in Hobart finished two days early, but advertising packages have been pre-sold across the summer’s cricket coverage, so Nine’s revenue will not be affected if the remaining two Tests do not run for five days.

CORPORATES
NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, CARAT AUSTRALIA PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN

Fox Sports wins football trifecta

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Original article by Max Mason
The Australian Financial Review – Page: 24 : 18-Dec-15

Fox Sports will be seeking an increase in subscribers after securing the broadcasting rights for the Australian Football League, the National Rugby League and the Australian Rugby Union. CEO Patrick Delaney notes that Foxtel pay-TV subscriptions account for about 75 per cent of Fox Sports’ revenue, as live matches do not have advertising breaks. Fox Sports will pay about $A285m for the five-year deal with the ARU, and will gain some revenue from on-selling the rights to selected matches to the Ten Network.

CORPORATES
FOX SPORTS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN RUGBY FOOTBALL UNION, SUPER RUGBY, FOXTEL MANAGEMENT PTY LTD, SANZAR, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE

Nine strikes a secret cricket deal with SBS

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Original article by Dominic White
The Australian Financial Review – Page: 9 : 18-Dec-15

Regional broadcaster WIN Corporation has yet to finalise a new affiliation agreement with Nine Entertainment Company, with the existing deal set to lapse at the end of 2015. It has been revealed that Nine has negotiated a deal for public broadcaster SBS to televise its cricket coverage in regional areas if WIN does not renew its affiliation agreement. Nine’s broadcasting deal with Cricket Australia requires it to provide all Australians with access to its cricket coverage.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, SPECIAL BROADCASTING SERVICE (SBS), CRICKET AUSTRALIA, TEN NETWORK HOLDINGS LIMITED – ASX TEN

Obsolete media rules shackle Foxtel, says Ten chairman

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Original article by Dominic White, Max Mason
The Australian Financial Review – Page: 13 & 18 : 17-Dec-15

Shareholders at Ten Network’s 2015 AGM have voted in favour of a deal for Foxtel to acquire a 15 per cent stake in the free-to-air broadcaster. Meanwhile, Ten chairman David Gordon has urged the Australian Government to abolish cross-media ownership rules, noting that the growth of digital media groups has made the rules redundant. He has also called for TV broadcasting licence fees to be scrapped, arguing that digital rivals have a competitive advantage.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, WIN CORPORATION PTY LTD, BLACKMORES LIMITED – ASX BKL

Ten delays on third billionaire nominee

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Original article by Dominic White
The Australian Financial Review – Page: 23 : 16-Dec-15

Lachlan Murdoch and Gina Rinehart are expected to retain their nominees on the new six-person board of Ten Network. The free-to-air broadcaster has allocated three seats to representatives of its four billionaire shareholders. However, Ten is not keen to appoint a nominee of WIN Corporation owner Bruce Gordon, as he also holds a stake in Nine Entertainment Company. WIN’s affiliation agreement with Nine ends on 31 December 2015, and Nine is seeking an increase in WIN’s advertising revenue under a new deal.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BIRKETU PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN NETWORK LIMITED, PRIME MEDIA GROUP LIMITED – ASX PRT, FOXTEL MANAGEMENT PTY LTD, HANCOCK PROSPECTING PTY LTD