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KIIS FM boss plays down Seven West tie-up talk

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Original article by Zoe Samios
The Age – Page: Online : 22-Feb-23

Listed media group HT&E has posted a statutory loss of $176.3m for calendar 2022. The result was marred by a $249.9m impairment charge on the value of its radio business. However, underlying EBITDA and revenue both rose by 53 per cent, to $91.8m and $344.9m respectively. There has been recent media speculation of a potential merger with Seven West Media, but HT&E CEO Ciaran Davis says he has not heard from Seven. He adds that HT&E would be an "absolute prime target" in the event of further consolidation in the media sector. Davis has also indicated that HT&E may look at divesting its Hong Kong-based Cody outdoor advertising firm later in 2023.

CORPORATES
HT&E LIMITED – ASX HT1, SEVEN WEST MEDIA LIMITED – ASX SWM, CODY

No sign of dividends as Seven West seeks revenue lift, debt shrinkage

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 19 : 15-Feb-23

Seven West Media has posted a 2022-23 interim net profit of $114.9m, which is 4.6 per cent lower than previously. Revenue was down 0.5 per cent at $814.6m and EBITDA was 4.8 per cent lower at $205m. CEO James Warburton says the nine interest rate rises since May 2022 have had a significant impact on the advertising market, which he expects to decline to "mid to high single digits" in the second half. Meanwhile, Seven will seek cost savings of $15m to $20m, although Warburton has ruled out job cuts. Seven has cited "prevailing market conditions" for its decision to withhold paying a dividend again.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM

Why Forrest is so keen on rare earths

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Original article by Tom Parker
Australian Resources & Investment – Page: Online : 1-Feb-23

Fortescue Metals Group founder Andrew Forrest became a cornerstone investor in rare earths miner Hastings Technology Metals in 2022, via his private company, Wyloo Metals. Forrest says he is "very interested in rare earths", which are essential to the green energy technologies that are being developed by FMG’s Fortescue Future Industries offshoot. A subsidiary of FFI recently built a prototype battery that uses rare earths; the battery will be shipped to FMG’s iron ore mines in the Pilbara for testing in a battery-electric haulage truck.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, FORTESCUE FUTURE INDUSTRIES PTY LTD, HASTINGS TECHNOLOGY METALS LIMITED – ASX HAS, WYLOO METALS PTY LTD

Rupert Murdoch to be deposed in Dominion defamation case

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Original article by Helen Coster
The New Daily – Page: Online : 20-Jan-23

Election technology company Dominion Voting Systems has launched defamation action against Fox News Network over allegations it ‘amplified’ false claims that its voting machines helped to rig the 2020 US presidential election in favour of Joe Biden and against Donald Trump; it is seeking US1.6 billion ($2.3 billion) in damages. Fox Corporation chairman Rupert Murdoch is due to be questioned by lawyers for Dominion on 19 and 20 January in Los Angeles; his sessions will be closed to the general public.

CORPORATES
DOMINION VOTING SYSTEMS, FOX NETWORK, FOX CORPORATION

Nine to take a hit from Kyrgios’s Australian Open exit

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Original article by Sophie Elsworth
The Australian – Page: 2 : 18-Jan-23

Data from OzTAM shows that the Nine Network’s broadcast of the first night session of the 2023 Australian Open attracted a national audience of just 476,000; this compares with 885,000 viewers in 2022. The withdrawal of Nick Kyrgios from the grand slam tournament due to injury is expected to affect Nine’s rating for the remainder of the event, given that he was one of the major drawcards. A TV industry insider notes that viewers have traditionally tended to lose interest when the leading tennis stars are not playing or are defeated in the early rounds. Nine Entertainment Company renewed its broadcasting rights deal in late 2022; it is paying about $85m a year, plus contra.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN OPEN TENNIS

Battle of the Murdochs

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Original article by Alex Barker
The Australian Financial Review – Page: 36 & 37 : 11-Jan-23

The future of the Murdoch family’s media empire is under scrutiny in the wake of a proposal to reunify News Corp and Fox Corp. Succession planning has emerged as a key issue, with patriarch Rupert Murdoch in his 90s and eldest son Lachlan Murdoch widely seen as the heir apparent. However, the question arises as to whether the Murdoch family will allow Lachlan to take over. For most of his career, Rupert Murdoch did not have control of the family business, as he could be outvoted by his siblings. Lachlan may face the same situation, given that his own siblings have equal stakes in the media empire.

CORPORATES
NEWS CORPORATION – ASX NWS, FOX CORPORATION

‘Journalistic cluelessness’: Ex-Media Watch host roasts regulator

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Original article by Zoe Samios
The Age – Page: Online : 4-Jan-23

ABC Alumni chair Jonathan Holmes has criticised the Australian Communications & Media Authority’s investigation into the ABC’s two-part ‘Four Corners’ program on US-based Fox News. ACMA ruled in late 2022 that the program had breached the public broadcaster’s code of practice and misled viewers. Holmes subsequently wrote to ACMA chair Nerida O’Loughlin, contending that the investigation had "needlessly damaged" the reputation of ‘Four Corners’. ABC Alumni is not affiliated with the public broadcaster.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION,ABC ALUMNI,FOX NEWS,AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Foxtel pays more for less in record $1.5b cricket broadcasting deal

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 5 : 4-Jan-23

Cricket Australia’s new seven-year broadcasting rights deal with Foxtel and Seven West Media is worth more than $1.5bn. Foxtel will pay about $980m for the broadcasting rights, which equates to nearly $140m a year. However, the Big Bash League will be reduced from 61 matches per season to just 43 under the new rights deal, which runs from 2024-25 to 2030-31. Seven in turn will pay about $65m a year, which is about 13 per cent lower than the cost of its current rights deal. Meanwhile, Ten Network owner Paramount has stated that it did not make a formal bid for the cricket rights.

CORPORATES
CRICKET AUSTRALIA,FOXTEL MANAGEMENT PTY LTD,SEVEN WEST MEDIA LIMITED – ASX SWM,SEVEN NETWORK LIMITED,TEN NETWORK HOLDINGS LIMITED,PARAMOUNT GLOBAL

Billion-dollar cricket bid drags as rivals pick up pace

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Original article by Ben Horne
The Australian – Page: 3 : 23-Dec-22

Cricket Australia is believed to favour a joint bid from Nine Entertainment and Fox Sports for its broadcasting rights, despite the fact that Ten Network owner Paramount has made the highest offer. CA is said to be reluctant to give the rights to all forms of cricket to Paramount, although it could secure some of the rights. Meanwhile, Nine is believed to have been given financial advice that it could handle the broadcasting rights to both cricket and the Australian Open.

CORPORATES
CRICKET AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, FOX SPORTS AUSTRALIA PTY LTD, TEN NETWORK HOLDINGS LIMITED, PARAMOUNT GLOBAL

ABC attack on regulator reeks of arrogance

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Original article by Stephen Rice
The Australian – Page: 1 & 6 : 23-Dec-22

The ABC is under renewed scrutiny after the Australian Communications & Media Authority found that a controversial two-part Four Corners program about Fox News breached its code of practice. Shadow communications minister Sarah Henderson says the ABC has shown an "untenable disregard" for the need to comply with its own code of practice by improperly attacking the independent regulator. Henderson says ACMA’s findings with regard to ‘Fox and the Big Lie’ show that the ABC needs to undertake a comprehensive review of how journalistic standards at Four Corners and across the public broadcaster can be improved.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, FOX NEWS