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News bargaining code a success not to be repeated: Sims

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Original article by John Davidson
The Australian Financial Review – Page: 21 : 1-Mar-22

Australian Competition & Consumer Commission chairman Rod Sims claims that the news media bargaining code has been one of the most successful policy initiatives in 50 years. The code requires technology platforms such as Google and Facebook to pay Australian media outlets for their content, and has seen Facebook and Google pay Australian media companies over $200 million since it took effect in March 2021. However, Sims does not consider the code should be used as a ‘template’ for a wider crackdown on big technology companies.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE AUSTRALIA PTY LTD, FACEBOOK AUSTRALIA PTY LTD

Chinese hackers attack local media group

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Original article by Ben Packham
The Australian – Page: 2 : 10-Feb-22

Cybersecurity firm CyberCX has revealed that a major Australian media company was targeted by hackers on 10 December, immediately after the ‘Log4j’ vulnerability was exposed. CyberCX’s chief strategy officer Alastair MacGibbon says the hackers used techniques that are consistent with Chinese ‘state-sponsored actors’. He adds that media companies are attractive targets for such hackers because they receive and analyse information that has intelligence value. The media company has not been identified, although it is not News Corp; it is also not believed to be Nine Entertainment, which was targeted by a cyber attack in March 2021.

CORPORATES
CYBERCX, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

The ABC’s budget hasn’t been restored – it’s still facing $1.2 billion in losses over a decade

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Original article by Alexandra Wake, Michael Ward
The New Daily – Page: Online : 10-Feb-22

The ABC’s management has welcomed the federal government’s new three-year funding package and the abolition of the budget indexation freeze that was imposed in 2018. The ABC will receive $3.284bn over the three years from 2022-23, including $45.8m to continue its enhanced news gathering program for local public interest journalism in regional areas. However, analysis shows that the ABC’s funding has been cut by $783m in total since 2014, and it faces accumulated funding cuts of $1.201bn over the period from 2014-15 to 2024-25.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Anger after News Corp and Google Australia set up journalism academy at university business school

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 9-Feb-22

News Corporation executive Campbell Reid will be the inaugural head of the Digital News Academy, which is a joint venture between the media giant and Google Australia. Reid says the University of Melbourne’s business school was selected to provide the nine-month course because it is "unashamedly about the business of journalism". However, the decision to offer the course via the business school has been criticised by Andrew Dodd, the director of the university’s Centre for Advancing Journalism. He says it reflects News Corp’s long-standing antagonism for university journalism programs. Dodd adds that he was not aware of the new initiative until he read about it in a press release.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GOOGLE AUSTRALIA PTY LTD, GOOGLE INCORPORATED, UNIVERSITY OF MELBOURNE. BUSINESS SCHOOL, UNIVERSITY OF MELBOURNE. CENTRE FOR ADVANCING JOURNALISM

Rio’s Kakadu uranium rehabilitation hit by blowouts

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Original article by Peter Ker
The Australian Financial Review – Page: 12 & 18 : 3-Feb-22

Energy Resources of Australia has advised that rehabilitation work at the Ranger uranium mine in the Northern Territory is now expected to cost between $1.6bn and $2.2bn. This compares with estimated costs of $526m in 2017 and $973m in 2019. The target date for completing the rehabilitation project has also been pushed back by nearly three years. Rio Tinto has an 89 per cent stake in ERA, which may pursue another equity raising to cover the cost blowout. Uranium processing at the Ranger mine ended in early 2021.

CORPORATES
ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, RIO TINTO LIMITED – ASX RIO

Lew seizes 20pc of Myer as endgame nears

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Original article by Eli Greenblat
The Australian – Page: 15 : 2-Feb-22

Premier Investments has advised that it recently paid more than $15m for more than 33 million additional shares in department store group Myer Holdings. Premier now has a 19.88 per stake in Myer, which is just below the takeover threshold. Premier has spent some $132m to progressively lift its stake in Myer over the last five years. The latest share purchase may give Premier’s chairman Solomon Lew sufficient leverage to secure his long-sought representation on Myer’s board.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

Absent anti-vaxxer Novak Djokovic ‘won’t hit TV ratings’

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Original article by Rachel Baxendale
The Australian – Page: Online : 7-Jan-22

Advertising executives do not think the likely absence of Novak Djokovic from the Australian Open will have too much impact on ratings for the event, which will be broadcast by Nine Entertainment. Spinach Advertising general manager Ben Willee notes ratings for the Australian Open are determined by a range of factors, including whether there is an Australian player "who gets a long way through". Both Willee and Mumbrella head of content Damian Francis suggest a jump in COVID-19 cases could help ratings, with Willee noting a surge in cases means people are more likely to be staying home and watching television.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SPINACH ADVERTISING PTY LTD, MUMBRELLA

Harvey says Australians are shopping like crazy

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Original article by Kanika Sood
The Australian Financial Review – Page: 17 : 22-Dec-21

The Australian Retailers Association recently forecast that pre-Christmas consumer spending will total $58.8bn in 2021, which is in line with 2020. Harvey Norman is among the retailers that are enjoying strong sales in the lead-up to Christmas, with executive chairman Gerry Harvey noting that all of its stores have been very busy and demand has been strong across its product range. Harvey adds that retailers may offer smaller discounts than usual at the upcoming Boxing Day sales, given that supply chain issues have resulted in less stock to discount.

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Retailers ready to ride Black Friday wave

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Original article by Richard Henderson, Simon Evans
The Australian Financial Review – Page: 22 & 34 : 25-Nov-21

Research by Boston Consulting Group shows that 82 per cent of Australians intend to participate in the Black Friday sales in 2021, compared with 43 per cent in 2020. Australian Retailers Association CEO Paul Zahra notes that November has displaced December as the nation’s biggest month for retail sales over the last two years, primarily due to the Black Friday and Cyber Monday sales. Roy Morgan’s research shows that the four-day event will generate sales of $5.4bn in 2021. Some retailers have been offering big discounts ahead of the Black Friday sale on 26 November.

CORPORATES
THE BOSTON CONSULTING GROUP PTY LTD, AUSTRALIAN RETAILERS ASSOCIATION, ROY MORGAN LIMITED

Prime Media welcomes Seven, castigates the Nationals

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Original article by Miranda Ward
The Australian Financial Review – Page: 27 : 25-Nov-21

Prime Media Group’s CEO Ian Audsley says the proposed takeover by Seven West Media is in the best interests of the regional affiliate’s shareholders. He has told Prime’s AGM that digital disruption has had an "irreversible and negative" impact on traditional media businesses in regional Australia. Audsley also warned that Prime’s future would be uncertain if the merger does not proceed. In addition, he has criticised the federal government – and the National Party in particular – over its failure to pursue further media reforms.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM, NATIONAL PARTY OF AUSTRALIA