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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.

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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.

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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.

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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.

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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.

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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.

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

Lithium explorer may face class action

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Original article by Tom Richardson
The Australian Financial Review – Page: 27 : 21-Dec-22

Law firm Johnson Winter Slattery is set to launch a class action against lithium explorer AVZ Minerals. The legal action will be financed by litigation funder Omni Bridgeway, and centres on AVZ’s disclosures regarding the Manono lithium project in the Democratic Republic of the Congo. It will be alleged that AVZ breached its continuous disclosure obligations and misled investors over its rights to the project. AVZ’s shares have been in a trading halt since early May.

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AVZ MINERALS LIMITED – ASX AVZ, JOHNSON WINTER AND SLATTERY, OMNI BRIDGEWAY LIMITED – ASX OBL

Rupert Murdoch to testify in Dominion voting machine defamation case

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Original article by Richard Luscombe
The Guardian – Page: Online : 7-Dec-22

Media baron Rupert Murdoch has been issued with a subpoena to give evidence in a lawsuit over his Fox network’s reports on a conspiracy theory regarding the 2020 US presidential election. Dominion Voting Systems has launched a $US1.6bn lawsuit against Fox News and parent company Fox Corp for broadcasting allegations that the voting machines company had rigged the election. Murdoch is the most senior executive of Fox to have been served with a deposition; his son Lachlan Murdoch gave evidence in the case on Monday.

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FOX NEWS,{SPAC}FOX CORPORATION,{SPAC}DOMINION VOTING SYSTEMS

US policy drives growth in rare earths sector

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Original article by Paul Garvey
The Australian – Page: 4 : 7-Dec-22

The US consul-general to Perth, Siriana Nair, says Australia is well positioned to benefit from incentives in the Biden administration’s Inflation Reduction Act, due to the free-trade agreement between the two nations. They include incentives to assist US companies to source critical minerals and rare earths; Nair says this could boost US interest in Australia’s critical minerals projects. She says the global supply chain disruptions that occurred during the pandemic highlighted the need to have suppliers from a range of countries. China is the dominant player in the critical minerals sector.

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October retail results remain solid despite economic headwinds

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Original article by
Australian Retailers Association – Page: Online : 29-Nov-22

Retail sales continue to show robust year-on-year growth, with $35 billion spent in stores and online in October; this is an increase of 12.5 per cent on the same time a year ago, according to figures from the Australian Bureau of Statistics. However, retail turnover fell 0.2 per cent compared to the previous month, which is the sector’s first monthly fall in 2022. There were strong year-on-year sales increases for clothing, footwear and personal accessories (up 32.8%), cafes, restaurants and take-away food (up 35.3%), and department stores (up 23.0%). Australian Retailers Association CEO Paul Zahra says that while the results remain solid for retail, some softening of sales is inevitable as Australians confront the cost-of-living challenges. He says the ARA is optimistic about pre-Christmas trading, anticipating a $63.9 billion spend this year; this is up three percent on 2021 spending, according to the ARA-Roy Morgan predictions.

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AUSTRALIAN RETAILERS ASSOCIATION, ROY MORGAN LIMITED