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Shoes of Prey steps away to LA

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Original article by Caitlin Fitzsimmons
The Australian Financial Review – Page: 37 : 16-Jun-15

Online retailer Shoes of Prey will pursue growth in markets such as Asia, Europe and the Middle East, according to co-founder Jodie Fox. However, the US is the Australian company’s primary target for expansion, and as a result it will relocate to Los Angeles. Shoes of Prey’s three co-founders and 20 employees will move to the US, while a number of employees will continue work out of the Sydney office.

CORPORATES
SHOES OF PREY PTY LTD, NORDSTROM INCORPORATED, DAVID JONES LIMITED

Metcash sinks auto sale proceeds into groceries

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 18 : 16-Jun-15

Australian-listed Burson Group will pay $A275m for Metcash’s automotive division, whose brands include Autobarn and Midas. The proceeds of the transaction will be used to bolster Metcash’s balance sheet and invest in its grocery business. Meanwhile, Metcash’s 2014-15 underlying net profit was down 17.4 per cent at $A193m, and it has posted a net loss of $A384.2m. EBIT was 16.7 per cent lower at $A325.1m.

CORPORATES
METCASH LIMITED – ASX MTS, BURSON GROUP LIMITED – ASX BAP, AUTOBARN PTY LTD, MIDAS MUFFLERS, AUTOPRO SERVICES PTY LTD, INDEPENDENT GROCERS OF AUSTRALIA, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, DEUTSCHE BANK AG

Murdoch tightens Ten grip

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Original article by Max Mason
The Australian Financial Review – Page: 1 & 8 : 16-Jun-15

Pay-TV group Foxtel will acquire a stake of around 15 per cent in the Ten Network, paying $A0.15 per share, which equates to about $A77m. Ten shareholders will also be offered additional stock at $A0.15, with the free-to-air broadcaster raising $A154m in total via the share placement. Meanwhile, Ten will take a 24.99 per cent stake in Foxtel’s Multi Channel Network advertising sales company, which will in turn merge with Ten’s advertising department.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, MULTI CHANNEL NETWORK PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, REA GROUP LIMITED – ASX REA, SKY PLC, 20TH CENTURY FOX INCORPORATED, FOX SPORTS AUSTRALIA PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, SMI MEDIA INCORPORATED

Nine plans local shift

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Original article by Jared Lynch
The Australian Financial Review – Page: 30 : 15-Jun-15

Nine Entertainment Company will increase its investment in Australian drama, after deciding not to renew its content deal with US-based Warner Bros. Nine Network programming director Andrew Backwell says local drama is generally rating well, while the plethora of options available for viewing US drama means such shows no longer attract large audiences in Australia. He adds that piracy is not such a big issue with local drama. Nine will continue to buy current TV shows from Warner Bros.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, NETFLIX INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, WARNER BROS, ENDEMOL ENTERTAINMENT HOLDING NV

Rupert Murdoch to stand down as CEO of 21st Century Fox, son James to succeed

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Original article by
ABC News – Page: Online : 12-Jun-15

21st Century Fox has advised that James Murdoch will replace Rupert Murdoch as CEO of the US media group later in 2015 or in 2016. Rupert Murdoch will stay in the role of executive chairman, with Lachlan Murdoch as co-chairman. There has also been media speculation that Chase Carey will also stand down as president and COO of 21st Century Fox. http://www.abc.net.au/news/2015-06-12/rupert-murdoch-to-stand-down-as-ceo-of-21st-century-fox/6540286

CORPORATES
21ST CENTURY FOX INCORPORATED, FOX NEWS, CNBC, MSNBC, NEWS CORPORATION – ASX NWS, SKY PLC, DOW JONES AND COMPANY

Television keeps pretenders at bay as king of screens

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 12-Jun-15

A new report shows that Australian consumers still prefer to watch video content on TV rather than mobile devices or PCs. The Australia Multi-Screen Report indicates that Australians typically watched more than 89 hours of TV each month in the last year, compared with just over 93 hours previously. The average amount of time Australians spend each month watching video content on a computer device fell slightly in the last year. The report also shows that the 65+ age group tends to watch the most TV, while those aged 13-17 watch the least.

CORPORATES
OZTAM PTY LTD, THE NIELSEN COMPANY (AUSTRALIA) PTY LTD, REGIONAL TAM PTY LTD

Community spirit still strong for newspapers

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 11-Jun-15

A Roy Morgan Single Source survey has found that total readership of News Corp Australia’s community newspapers rose by just under one per cent to 5,062,000 in the 24 months to March 2015. Fairfax Media’s community publications maintained a combined reach of just over a million across New South Wales and Victoria, down 2.8 per cent compared with the 24 months to March 2014. The latest Roy Morgan Community Newspaper Readership results also show that the "St George & Sutherland Shire Leader" remains the most-read community paper in NSW, with an average of 194,000 readers per issue, and the "Waverley/Oakleigh Monash Leader" is now the most-read community paper in Victoria.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ

Myer C-suite poised to slash asset values

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Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 11-Jun-15

The market capitalisation of department store group Myer Holdings is $A795m at present, but the value of its intangible assets exceeds $A930m. Bradley King of Armytage Private suggests that Myer’s new management team could opt for intangible assets and inventory writedowns, while he says a capital raising may also be an option. Recent additions to Myer’s management ranks include new CFO Grant Devonport.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, ARMYTAGE PRIVATE LIMITED, TOLL HOLDINGS LIMITED, VILLAGE ROADSHOW LIMITED – ASX VRL, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT

Racing Victoria bets on Seven deal

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Original article by John Stensholt, Patrick Bartley
The Australian Financial Review – Page: 26 : 11-Jun-15

Racing Victoria is expected to post a net profit of at least $A15m for the 2014-15 financial year. Meanwhile, the racing body does not expect revenue to be unduly affected by Tabcorp’s decision to end Sky Channel’s coverage of Victorian horse races from mid-June 2015. Seven West Media is in talks with Racing Victoria to launch a dedicated racing channel.

CORPORATES
RACING VICTORIA LIMITED, TABCORP HOLDINGS LIMITED – ASX TAH, SKY CHANNEL, SEVEN WEST MEDIA LIMITED – ASX SWM

Retailers duck for cover as global chains battle it out

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 18 : 10-Jun-15

International fast-fashion retailers H&M and Forever 21 will shortly open stores in Sydney’s Pitt Street Mall. The growing presence of offshore retailers has forced Australian rivals such as Just Jeans and Sussan to relinquish space in the prestigious shopping precinct, and experts warn that local retailers’ sales are likely to be adversely affected by the growing competition in the sector. Forever 21 boasts more than 700 stores worldwide, and it will open about 70 outlets in 2015.

CORPORATES
HENNES OCH MAURITZ AB, FOREVER 21 INCORPORATED, ZARA, JUST JEANS PTY LTD, PREMIER INVESTMENTS LIMITED – ASX PMV, SUSSAN-SUZANNE GRAE, GLUE, TOPSHOP, COTTON ON, SUPRE PTY LTD, SES, VALLEY GIRL FASHIONS PTY LTD, SHARAF RETAIL, AGENT PROVOCATEUR