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Consumers ‘happiest in seven years’

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 & 22 : 28-Oct-15

Harvey Norman has posted pre-tax earnings of $A91.8m for the first quarter of 2015-16, which is 27.8 per cent higher than previously. The retailer’s same-store sales in Australia rose by 7.1 per cent year-on-year, and chairman Gerry Harvey says consumer confidence is at its highest level for at least seven years. Fantastic Holdings and Super Retail Group have also reported healthy growth in sales so far in 2015-16. The ANZ-Roy Morgan Consumer Confidence index has increased by 0.1 per cent to 113.4 in the last week.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, FANTASTIC HOLDINGS LIMITED – ASX FAN, SUPER RETAIL GROUP LIMITED – ASX SUL, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ROY MORGAN RESEARCH LIMITED, PACIFIC BRANDS LIMITED – ASX PBG, NONI B LIMITED – ASX NBL, SUPER CHEAP AUTO, REBEL SPORT LIMITED, RAY’S OUTDOORS, WOOLWORTHS LIMITED – ASX WOW, BIG W DISCOUNT STORES, CITIGROUP PTY LTD

Ten at last finding backbone

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Original article by Max Mason
The Sydney Morning Herald – Page: 19 : 27-Oct-15

Ten Network has posted a 2014-15 loss of $A312.2m, while its underlying EBITA loss was $A12m. CEO Paul Anderson notes that Ten’s audience share has reached a four-year high of 24.8 per cent in 2015. Ten’s share of advertising revenue rose to 22.2 per cent in September, and Anderson says Ten wants these two measures to reach parity. He has also ruled out live streaming of its three TV channels in the near-term, arguing that it is not commercially viable at present.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, SMI MEDIA INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD

Automatic ad-trading an overnight hit for Foxtel’s sales arm

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Original article by Dominic White
The Australian Financial Review – Page: 28 : 26-Oct-15

The MCN sales division of pay-TV group Foxtel launched its programmatic trading system earlier in 2015. MCN has indicated that it now sells 30-40 per cent of advertising via the Landmark automated trading system. CEO Anthony Fitzgerald wants to increase MCN’s share of the total video advertising market, including internet advertising. MCN now sells all of the Ten Network’s advertising, as part of the equity alliance between Ten and Foxtel.

CORPORATES
MULTI CHANNEL NETWORK PTY LTD, FOXTEL MANAGEMENT PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, THE QUANTIUM GROUP PTY LTD

Nine to stream all channels in law challenge

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Original article by Dominic White, Max Mason
The Australian Financial Review – Page: 28 : 26-Oct-15

Nine Entertainment Company is expected to use its "upfronts" event to reveal that it will introduce live streaming of its three TV channels. WIN Corporation CEO Andrew Lancaster and Prime Media chairman John Hartigan say the move by metropolitan networks to offer live streaming across Australia demonstrates the need to abolish the "reach rule". Seven West Media will commence live streaming of its channels in early November 2015.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ

Foxtel-Ten deal gets ACCC green light but watch this space

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Original article by Max Mason
The Australian Financial Review – Page: 13 & 18 : 23-Oct-15

The Australian Competition & Consumer Commission has approved an equity alliance between Ten Network and pay-TV group Foxtel. The competition regulator ruled that the deal is unlikely to result in a substantial lessening of competition. However, chairman Rod Sims says the ACCC could intervene if future transactions between the two groups raise competition concerns, such as making a joint bid for the rights to sports broadcasts. Sims has also questioned whether streaming of TV broadcasts has reduced the effectiveness of the "reach rule".

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOX SPORTS AUSTRALIA PTY LTD, MULTI CHANNEL NETWORK PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, ILLYRIA PTY LTD

Wind down Masters, Woolworths told

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Original article by Sue Mitchell
The Australian Financial Review – Page: 26 : 22-Oct-15

The Masters Home Improvement joint venture is expected to post a loss of $A236m in the next year, following a loss of $A245m in fiscal 2015. Deutsche Bank estimates that Woolworths could boost its profits by around five per cent by exiting the Masters venture. It could also make a net cash gain of $A161m, while joint venture partner Lowe’s would make a gain of $A80m. Woolworths has invested $A2.2bn in Masters to date.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, LOWE’S COMPANIES INCORPORATED, DEUTSCHE BANK AG, MORGAN STANLEY AUSTRALIA LIMITED, CITIGROUP PTY LTD

Nine ready to deal with News on NRL

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Original article by Darren Davidson
The Australian – Page: 19 : 22-Oct-15

Nine Entertainment Company recently secured a $A925m deal to broadcast National Rugby League matches from 2018. It includes the Super Saturday match that is currently broadcast exclusively by News Corp Australia-owned Fox Sports. News Corp paid $A530m for the NRL’s pay-TV rights under its current deal, but it is believed to be unwilling to pay as much for the next rights deal unless the Saturday match is included. Nine is said to be willing to negotiate on relinquishing the match.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NATIONAL RUGBY LEAGUE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOX SPORTS AUSTRALIA PTY LTD

Seven to follow viewers into the digital future with streaming

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Original article by Max Mason, Dominic White
The Australian Financial Review – Page: 25 : 22-Oct-15

Seven West Media has revealed its program line-up for 2016 at its annual "upfronts" event. Meanwhile, the media group will begin live streaming of its TV channels online from 3 November 2015, which will be supported by targeted pre-roll video advertisements. Seven West Media will also launch a programmatic advertising service called 7 Screen, as well as an online shopping service that will allow viewers to purchase grocery products that are featured on its TV shows.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, PACIFIC MAGAZINES PTY LTD, YAHOO!7 COMMUNICATIONS AUSTRALIA PTY LTD, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, OZTAM PTY LTD, GOOGLE INCORPORATED, NETFLIX INCORPORATED, YOUTUBE INCORPORATED

Murdoch’s great escape

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 18 : 21-Oct-15

News Corporation’s non-voting A shares have traditionally traded higher than the B shares, which have voting rights. However, the latter traded at a 1.2 per cent premium in New York on 20 October 2015. Some 49.5 per cent of votes cast at the media group’s 2015 AGM were in favour of abolishing the dual-class share structure. The resolution was defeated by less than 900,000 shares. Scrapping the non-voting shares would have reduced the Murdoch family’s voting stake to 13.5 per cent.

CORPORATES
NEWS CORPORATION – ASX NWS, 21ST CENTURY FOX INCORPORATED, FOXTEL MANAGEMENT PTY LTD, REA GROUP LIMITED – ASX REA, NATIONAL RUGBY LEAGUE, SOUTH EASTERN ASSET MANAGEMENT

Gordon expands media empire with Nine stake

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Original article by Max Mason
The Australian Financial Review – Page: 13 & 18 : 21-Oct-15

US-based Apollo Global Management will reduce its stake in Nine Entertainment Company to nine per cent after agreeing to sell about 13 per cent of its holding to Bruce Gordon. The Bermuda-based businessman will pay around $A200m for the holding via his private company, Birketu. This will increase the WIN Corporation owner’s total stake in Nine to 14.95 per cent. Gordon also has a 14.95 per cent stake in Ten Network.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, BIRKETU PTY LTD, APOLLO GLOBAL MANAGEMENT LLC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM, NETFLIX INCORPORATED, FREE TV AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, KPMG AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION