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Ten in play as US giants move in

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Original article by Darren Davidson
The Australian – Page: 19 : 21-Jul-14

US-based media groups such as Liberty, Viacom and Discovery have been acquiring businesses in the broadcasting sector in Europe. The interest is forecast to extend to Australia, where an obvious target is third-ranked free-to-air TV provider Ten Network. CEO Hamish McLennan acknowledges the foreign investment trend. However he is not revealing anything about recent rumours that UK-based ITV, itself a target of Liberty, has held talks with Ten. Meanwhile McLennan notes that the move by Ten to reduce its news coverage has lifted its audience ratings

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, ITV PLC, ITV NETWORK LIMITED, LIBERTY GLOBAL INCORPORATED, DISCOVERY COMMUNICATIONS INCORPORATED, VIACOM INCORPORATED, CHANNEL 5 BROADCASTING LIMITED, EUROSTAT, NETFLIX INCORPORATED, BRITISH SKY BROADCASTING GROUP PLC, SKY DEUTSCHLAND AG, SKY ITALIA SPA

CFO Lewis ‘not right fit’ for Southern Cross

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Original article by Jake Mitchell
The Australian Financial Review – Page: 15 : 18-Jul-14

Peter Lewis has stepped down as CFO of Australian-listed Southern Cross Media. He only joined the company in mid-June 2014, and CEO Rhys Holleran says Lewis had indicated that he did think he was the "right fit" for the media group. Holleran notes that Southern Cross is very different to the companies for which Lewis has worked in the past, which include Seven West Media

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN BROADCASTING CORPORATION, TEN NETWORK HOLDINGS LIMITED – ASX TEN, ALLAN GRAY AUSTRALIA PTY LTD

Southern Cross in trouble as new CFO quits

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Original article by Darren Davidson
The Australian – Page: 19 : 17-Jul-14

Analysts are concerned Australian-listed Southern Cross Media (SXL) may soon breach its banking covenants. Peter Lewis, who was appointed CFO in mid-June, has resigned just one month later, and the company is believed to be considering a share issue. Its stock on 16 July closed $A0.01 higher at $A1.16, but has lost 31% so far in calendar 2014. There is speculation that if Communications Minister Malcolm Turnbull changes media competition laws, SXL will cut its affiliate ties with Ten Network and merge with the latter’s Nine Entertainment rival. SXL has been affected by declining audience ratings for its and radio and regional TV stations

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, 2DAY FM AUSTRALIA PTY LTD, AUSTEREO GROUP LIMITED, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF COMMUNICATIONS, WIN CORPORATION PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, FACEBOOK AUSTRALIA PTY LTD, MACQUARIE WEALTH MANAGEMENT

Woolies under pressure over Masters

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Original article by Sue Mitchell
The Australian Financial Review – Page: 20 : 16-Jul-14

Woolworths’ home improvements division posted a loss of $A139m in 2013, and financial market analysts expect the business to post higher losses in 2014 and 2015. Woolworths itself has forecast that the Masters hardware chain will achieve break-even status in 2016, but Goldman Sachs recently suggested that 2019 is more likely. There are also expectations that Woolworths’ 2013-14 financial results will include impairment charges related to the Masters business

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, LOWE’S COMPANIES INCORPORATED, HOME TIMBER AND HARDWARE, WESFARMERS BUNNINGS LIMITED, WESFARMERS LIMITED – ASX WES, MITRE 10 LIMITED, METCASH LIMITED – ASX MTS, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED

Parcel prices pique sellers

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Original article by Nassim Khadem
The Australian Financial Review – Page: 10 : 11-Jul-14

The Australian Booksellers Association has raised objections to foreign retailers paying lower charges for shipping books to customers in Australia than the postage paid for domestic parcels. The body wrote in an open letter to Communications Minister Malcolm Turnbull that local book distributors are treated unfairly by Australia Post. According to Jon Page, GM of Pages & Pages Booksellers, parcel rates have recently risen more than 60 per cent

CORPORATES
AMAZON.COM INCORPORATED, AUSTRALIAN BOOKSELLERS’ ASSOCIATION, AUSTRALIA. DEPT OF COMMUNICATIONS, PAGES AND PAGES BOOKSELLERS PTY LTD, THE BOOK DEPOSITORY LIMITED, UNIVERSAL POSTAL UNION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY

Wesfarmers slashes $680m off Target

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Original article by Blair Speedy
The Australian – Page: 19 : 3-Jul-14

Wesfarmers has reduced the value of its Target discount department stores chain by $A680 million. However, Wesfarmers CEO Richard Goyder is confident that the business can be improved. Its earnings fell by 53 per cent to $A70 million in the first half of 2013-14. A turnaround, led by Stuart Machin, will reduce the product range, refresh stores and sell excess stock

CORPORATES
WESFARMERS LIMITED – ASX WES, TARGET AUSTRALIA PTY LTD, COLES GROUP LIMITED, PACIFIC BRANDS LIMITED – ASX PBG, METCASH LIMITED – ASX MTS, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, THE REJECT SHOP LIMITED – ASX TRS, KMART AUSTRALIA LIMITED

Major plan to cut postal losses

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 25-Jun-14

Australia Post has terminated 900 administrative and management roles and adopted a user-pays system for business mail. Communications Minister Malcolm Turnbull says the postal group faces financial collapse in the absence of widespread reforms. Turnbull launched a report by Boston Consulting Group, in which losses of $A6 billion over the coming 10 years are forecast for Australia Post. The report states that the surge in parcel delivery can no longer compensate for the downturn in letters

CORPORATES
AUSTRALIA POST, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIA. DEPT OF COMMUNICATIONS, THE BOSTON CONSULTING GROUP PTY LTD, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

Ten falls on weak outlook

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Original article by Vanessa Desloires, Tom Cowie
The Australian Financial Review – Page: 16 : 20-Jun-14

Australian-listed TV broadcaster Ten Network has advised that its 2013-14 revenue will be between 3.5 per cent and 4.5 per cent lower than previously. COO Paul Anderson has noted the difficult conditions in the TV advertising market and the low ratings for many of the network’s programs earlier in 2014. The group’s shares closed 6.9 per cent lower at $A0.27 on 19 June

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN