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Gerry Harvey faces possible strike and spill

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Original article by Sue Mitchell
The Australian Financial Review – Page: 9 : 24-Nov-15

The "two strikes" rule could be invoked at the 2015 annual meeting of retailer Harvey Norman, after more than 25 per cent of shareholders voted against its remuneration report in 2014. Executive chairman Gerry Harvey argues that the group’s executives are paid less than the bulk of companies that are of a comparable size. Harvey and the family of late co-founder Ian Norman have sufficient voting power to thwart a board spill if they choose to do so. Harvey traditionally does not vote on the remuneration report.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Nine confirms Apollo’s exit from share register

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Original article by Jake Mitchell
The Australian – Page: 21 : 24-Nov-15

Apollo Global Management has sold its remaining 9.82 per cent stake in Nine Entertainment Company. The US hedge fund sold out of the media group at $A1.61 per share, gaining about $A140m from the transaction. Apollo and Oaktree Capital provided Nine with a financial lifeline in 2012, and they have progressively reduced their stakes. Oaktree now holds 7.8 per cent of Nine’s shares.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, APOLLO GLOBAL MANAGEMENT LLC, OAKTREE CAPITAL MANAGEMENT LLC, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, UBS HOLDINGS PTY LTD

Media reform debate could go to the wire

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 23-Nov-15

The Australian Government’s proposed changes to cross-media ownership laws may still be discussed by cabinet before parliament rises for the year, although other issues are likely to take priority in the coming week. Meanwhile, pay-TV group Foxtel has proposed removing sports events such as the FA Cup and the US Masters Golf from the anti-siphoning list. Australian Subscription Television & Radio Association chairman Tony Shepherd has also advocated changes to the list.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, FOOTBALL ASSOCIATION LIMITED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE

Bauer targets Southern Cross

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Original article by Jake Mitchell, Darren Davidson
The Australian – Page: 23 : 23-Nov-15

Bauer Media is believed to be considering a takeover bid for Southern Cross Media Group in order to diversify its Australian business. Bauer approached rival radio group Nova Entertainment in 2014, but Nova has ruled out a sale. Southern Cross Media’s network of metropolitan and regional radio stations accounts for the bulk of its revenue, and Bauer is said to be keen to reduce its reliance on revenue from magazines. Bauer is the leading player in Europe’s radio sector.

CORPORATES
BAUER MEDIA KG, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SOUTHERN CROSS AUSTEREO PTY LTD, NOVA ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE GROUP LIMITED – ASX MQG, MACQUARIE MEDIA LIMITED – ASX MRN, ACP MAGAZINES LIMITED, HIT NETWORK, TRIPLE M CORPORATION PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, ILLYRIA PTY LTD, AUSTRALIAN RADIO NETWORK PTY LTD, APN NEWS AND MEDIA LIMITED – ASX APN, NEWS CORPORATION – ASX NWS, KIIS1065, SMOOTHFM, ALLAN GRAY AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, WIN CORPORATION PTY LTD

Boys’ club ‘alive and well’ in TV industry

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Original article by Darren Davidson
The Australian – Page: 23 : 23-Nov-15

Sylvia Jeffreys joined the Nine Network’s "Today" breakfast show as its news presenter in mid-2014. She says the network has a large number of female news reporters and newsreaders, but concedes that sexism remains an issue for the broader TV industry. She adds that men continue to hold the majority of top roles in the media sector.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM

James Hardie guns for US as profit slips

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Original article by Tim Binsted
The Australian Financial Review – Page: 24 : 20-Nov-15

James Hardie Industries has reported $US65.3 million ($A92 million) in adjusted profit for the second quarter of 2015-16. The Australian-listed building products supplier stated on 19 November 2015 that its full-year profit will be lower than previously forecast. The company now expects adjusted profit for 2015-16 to be between $US230 million and $US250 million.

CORPORATES
JAMES HARDIE INDUSTRIES PLC – ASX JHX

Gordon has new tune for talks with Nine

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Original article by Jake Mitchell
The Australian – Page: 22 : 20-Nov-15

Nine Entertainment Company is seeking to conclude negotiations for a new affiliate agreement with regional broadcaster WIN Corporation. However, Nine is also holding merger talks with Southern Cross Media Group. WIN owner Bruce Gordon also has 14.9 per cent stakes in both Nine and Ten Network, positioning him to play a key role in TV industry consolidation if cross-media ownership rules are relaxed.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

NRL clubs threaten breakaway over TV

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Original article by Darren Davidson
The Australian – Page: 5 : 19-Nov-15

The National Rugby League (NRL) faces a potential split over the issue of pay-TV broadcasting rights, with some teams warning that they could withdraw from the league if a deal is not finalised. The NRL had been negotiating a new deal with Fox Sports and Telstra, but it is believed to have canvassed interest from Singtel Optus, which recently secured exclusive Australian rights to English Premier League matches.

CORPORATES
NATIONAL RUGBY LEAGUE, AUSTRALIAN RUGBY LEAGUE COMMISSION LIMITED, FOX SPORTS AUSTRALIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Scrap outdated media laws: Seven boss

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Original article by Darren Davidson
The Australian – Page: 19 : 19-Nov-15

Seven Group chairman Kerry Stokes has called for the Australian Government to take action on TV broadcasting licence fees and increase the producer offset for TV drama as part of its changes to media industry regulation. He supports abolition of the "reach rule" and the "two-out-of-three rule", but argues that these changes must be part of a broader package of reforms. However, Stokes favours retaining the anti-siphoning list for broadcasting sports.

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TEN NETWORK HOLDINGS LIMITED – ASX TEN

Government to debate media reform format

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Original article by Max Mason
The Australian Financial Review – Page: Online : 18-Nov-15

The Australian Government’s proposed cross-media ownership reforms are expected to be presented to cabinet in late November 2015. The Government is initially expected to focus on scrapping the so-called "reach rule" and the "two-out-of-three rule", but it is still to decide whether to pursue both reforms in a single bill or put two separate bills to Parliament. The Opposition favours abolishing the reach rule, although there is less support for scrapping the two-out-of-three rule.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS