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Hockey hit with costs on Fairfax case

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Original article by Marianna Papadakis, Katie Walsh
The Australian Financial Review – Page: 3 : 23-Jul-15

Treasurer Joe Hockey faces a huge legal bill after the Federal Court ordered Fairfax Media to pay just 15 per cent of his legal costs in a defamation lawsuit. Hockey was awarded $A200,000 in damages over tweets and newspaper advertising posters that were deemed to be defamatory. However, it is estimated that Hockey’s total legal costs in defending the case could be around $A300,000. Hockey failed to prove that published newspaper articles relating to the tweets and posters were defamatory.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIA. DEPT OF THE TREASURY, FEDERAL COURT OF AUSTRALIA, ACA LAWYERS PTY LTD, UNIVERSITY OF SYDNEY, GRIFFITH UNIVERSITY

Turnbull set to grill TV executives

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Original article by Dominic White
The Australian Financial Review – Page: 19 : 23-Jul-15

The CEOs of most of Australia’s metropolitan and regional commercial TV networks will meet with Communications Minister Malcolm Turnbull on 23 July 2015. They will press their case for a reduction in annual broadcasting licence fees, an issue on which there is rare consensus in the industry. However, Turnbull is tipped to take a tough stance after the networks thwarted the Federal Government’s bid to allow public broadcaster SBS to show more advertisements each hour.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, SPECIAL BROADCASTING SERVICE (SBS), SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, FREE TV AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Woolworths to offload two key DJs sites

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 23-Jul-15

Woolworths Holdings CEO Ian Moir says the South African group plans to reinvest the proceeds of David Jones asset sales into the department store business. Woolworths is set to sell one of the David Jones stores in both the Melbourne and Sydney CBDs. The two stores could fetch around $A400m in total, and Moir says the remaining two stores in the CBDs will be expanded and upgraded. The David Jones food halls will also be upgraded at a cost of $A8m.

CORPORATES
WOOLWORTHS HOLDINGS LIMITED, DAVID JONES LIMITED, COUNTRY ROAD LIMITED, WITCHERY FASHIONS PTY LTD, TRENERY, SEED, FCUK

Nine’s the one again when it comes to news

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Original article by Michael Bodey
The Australian – Page: 23 & 25 : 20-Jul-15

The Seven Network boasts a 30 per cent audience share so far in the 2015 ratings year, compared with 31.2 per cent at the same time in 2014. Nine Network’s audience share has fallen to 27.6 per cent, while Ten Network has increased its share. However, Nine has won every week of the prime-time news ratings battle in both Sydney and Melbourne. Nine’s evening news bulletin has benefited from a strong lead from "Millionaire Hot Seat", while "A Current Affair" is dominating the 7pm timeslot.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN BROADCASTING CORPORATION, TWITTER INCORPORATED

Turnbull to talk up fee cuts

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 20-Jul-15

The CEOs of free-to-air TV networks will be able to press their case for a reduction in licence fees when they meet with Communications Minister Malcolm Turnbull on 23 July 2015. The annual licence fee is currently set at 4.5 per cent of each network’s revenue, but they believe that the fee should be reduced or scrapped due to competition from new media players such as streaming video providers. Free TV Australia also argue that Australia’s licence fees are higher than in countries such as the UK.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, FREE TV AUSTRALIA LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN LABOR PARTY, NETFLIX INCORPORATED, YOUTUBE INCORPORATED, GOOGLE INCORPORATED

Winter vortex warms retailers’ hearts

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Original article by Patrick Hatch
The Australian Financial Review – Page: 3 : 16-Jul-15

Australian retailers have enjoyed a surge in sales of warm clothing and heaters due to the onset of very cold weather in the eastern states in mid-July 2015. The Good Guys’ sales of portable heaters have risen by 20 per cent in Victoria and 22 per cent in New South Wales, while Melbourne clothing retailers Otto & Spike and The Coat Man have reported strong demand for their products. Bogong Equipment’s sales of skiing gear have also risen strongly.

CORPORATES
THE GOOD GUYS, OTTO AND SPIKE, THE COAT MAN, BOGONG EQUIPMENT PTY LTD, LMB KNITWEAR PTY LTD

Kyle, Jackie O slip but Jones still king

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Original article by Max Mason
The Australian Financial Review – Page: 20 : 8-Jul-15

The latest radio ratings survey by GfK shows that 2GB presenter Alan Jones continues to dominate Sydney’s breakfast slot, with a 16 per cent audience share. The audience share of KIIS FM’s Kyle and Jackie O eased from 10.2 per cent to 8.6 per cent, although Duncan Campbell of Australian Radio Network expects their ratings to rebound. The Hit Network’s breakfast show team of Dan and Maz recorded a modest ratings increase.

CORPORATES
GFK PTY LTD, 2GB, MACQUARIE RADIO NETWORK LIMITED – ASX MRN, 101.7 WS-FM, TRIPLE M CORPORATION PTY LTD, KIIS1065, AUSTRALIAN RADIO NETWORK PTY LTD, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, THE HIT NETWORK, AUSTRALIAN BROADCASTING CORPORATION

Regions running scare campaign, says Seven

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Original article by Max Mason
The Australian Financial Review – Page: 36 : 6-Jul-15

Southern Cross Media Group CEO Grant Blackley says the Australian Government should review cross-media ownership laws to ensure a "level playing field" for regional TV broadcasters. However, Seven West Media CEO Tim Worner argues that regional networks’ primary motivation for scrapping the "reach rule" is to make them more appealing to potential suitors. He argues that they should instead lobby for a reduction in licence fees, which could be redirected to local content such as news.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS

PM rejects rural MP concerns over media law reform

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 3-Jul-15

Prime Minister Tony Abbott says changes to cross-media ownership laws will only be on the agenda if all media groups support reform. MPs in regional electorates have called for the current laws to be scrapped, amid concerns that regional TV broadcasters will be forced to cut jobs and local news services. Meanwhile, Fairfax Media CEO Greg Hywood says the competition regulator should closely examine Ten’s proposed equity deal with Foxtel, due to News Corp’s 50 per cent stake in the latter.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FAIRFAX MEDIA LIMITED – ASX FXJ, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA. DEPT OF COMMUNICATIONS, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PRESTO ENTERTAINMENT PTY LTD, DOMAIN.COM.AU, NATIONAL RUGBY LEAGUE, AUSTRALIAN FOOTBALL LEAGUE, MULTI CHANNEL NETWORK PTY LTD, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

Debt-free Pac Brands upgrades profit

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Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 3-Jul-15

Shares in Pacific Brands gained $A0.165 to close at $A0.49 on 2 July 2015, after the clothing and homewares group lifted its earnings forecast. Pacific Brands’ revised guidance is for 2014-15 underlying EBIT to be within the range of $A63m to $A65m, compared with market expectations of about $A60.1m. Meanwhile, asset sales have allowed the group to be free of debt for the first time since its sharemarket debut in 2004.

CORPORATES
PACIFIC BRANDS LIMITED – ASX PBG, BONDS INDUSTRIES LIMITED, SHERIDAN AUSTRALIA PTY LTD, HARD YAKKA, VOLLEY, GROSBY FOOTWEAR, KING GEE CLOTHING COMPANY, WESFARMERS LIMITED – ASX WES, EVERLAST PTY LTD, SLAZENGER, DUNLOP SPORT, ANCHORAGE CAPITAL PARTNERS PTY LTD, IBML CAPITAL PTY LTD, THE PAS GROUP LIMITED – ASX PGR, DESIGNWORKS LIMITED, WOOLWORTHS LIMITED – ASX WOW, BIG W DISCOUNT STORES, TARGET AUSTRALIA PTY LTD, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED