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Business brains bolster ABC board

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Original article by James Madden
The Australian – Page: 19 : 17-May-21

Media industry veteran Peter Tonagh is one of three new appointments to the ABC’s board. The former CEO of Foxtel was recommended by the public broadcaster’s independent nominations panel, as was the former MD of the Seven Network’s Perth station, Mario D’Orazio. Communications Minister Paul Fletcher personally chose Fiona Balfour to fill the third vacancy on the ABC’s board; she has extensive experience across a range of business sectors. All three will have five-year terms at the ABC.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, FOXTEL MANAGEMENT PTY LTD, SEVEN NETWORK LIMITED, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS

‘Completely excluded’: budget delivers $58.6m to media but ABC misses out

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 13-May-21

Former ABC bureaucrat Michael Ward has criticised the lack of funding for the public broadcaster in the federal government’s May 2021 Budget. He contends that the ABC is among the few media companies that are excluded from the $58.6m funding package. Amongst other things, SBS will receive a $30m funding boost, some $8m has been allocated to community broadcasting and the privately-owned AAP newswire service will receive $15m. The Australian Communications & Media Authority will receive an additional $4.2m to implement the news media bargaining code.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN ASSOCIATED PRESS PTY LTD, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

ABC regrets unfairness in finance probes

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Original article by Sophie Elsworth
The Australian – Page: 19 : 26-Apr-21

Liberal senator Andrew Bragg has criticised the ABC over a lack of balance in its business and economic reporting. It has been revealed that Bragg wrote to the public broadcaster in March to complain about its coverage of the federal government’s proposed changes to responsible lending laws. He contends that the article failed to present the government’s reasons for the legislative changes. The ABC has conceded that the article should have been more balanced. It has also recently corrected a series of reports about the alleged rorting of the JobKeeper scheme.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, LIBERAL PARTY OF AUSTRALIA

Journalists’ union says it will quit ineffectual Australian Press Council

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 22-Apr-21

The Media, Entertainment & Arts Alliance’s members have voted to withdraw from the Australian Press Council, the self-regulatory body for print media. The journalists’ union will give the requisite four years’ notice to quit the APC, and the MEAA’s Marcus Strom hopes its move will prompt debate about media regulation. The MEAA has called for a simpler system of self-regulation that is consistent across all platforms and organisations. The APC’s adjudications have been widely criticised by journalists and the print media.

CORPORATES
MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, AUSTRALIAN PRESS COUNCIL

Nine ads hit in cyber fallout

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Original article by James Madden
The Australian – Page: 19 : 12-Apr-21

A Nine Entertainment Company spokesman has declined to comment on media industry claims that the recent cyber attack has cost it several hundred thousand dollars in lost radio advertising revenue. The spokesman says there has been "minimal impact" on ad bookings; however, Nine is believed to still be having problems with the ad booking and placement system for its radio stations, and some of Nine’s clients are said to have placed ads with rival radio broadcasters since the cyber attack occured in late March.

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NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

ACM gets go-ahead to raise stake in Prime

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Original article by Sophie Elsworth
The Australian – Page: 15 : 9-Apr-21

Australian Community Media has been cleared to increase its stake in Seven Network affiliate Prime Media Group to 19.99 per cent. The deal to buy a five per cent stake in Prime from WIN Corporation owner Bruce Gordon had to be cleared by the Australian Communications & Media Authority, as ACM would exceed the 15 per cent threshold that is deemed to be a controlling interest under the Broadcasting Services Act 1992. ACM’s Anthony Catalano says the legislation needs to be updated, as the ‘voices test’ for regional areas does not include digital media. He adds that ACM will have to sell two newspapers in Victoria and New South Wales unless the legislation is changed.

CORPORATES
AUSTRALIAN COMMUNITY MEDIA PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, WIN CORPORATION PTY LTD, SEVEN NETWORK LIMITED, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

News Corp to raise $1b as it looks at potential buying spree

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Original article by Zoe Samios
The Age – Page: Online : 9-Apr-21

Media giant News Corporation has flagged the potential for acquisitions after announcing plans to raise $US750 million ($985 million) via the issuance of senior notes. It has advised the New York stock exchange that the proceeds of the debt raising will be used for ‘general corporate purposes’, which could include acquisitions and working capital. News Corp has struck several deals in recent weeks, including the acquisition of Investor’s Business Daily.

CORPORATES
NEWS CORPORATION – ASX NWS

Retailers set to lift prices as shipping costs soar

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Original article by Sue Mitchell
The Australian Financial Review – Page: 11 & 14 : 7-Apr-21

Australian retailers note that shipping costs have tripled in the last 12-15 months, and they will inevitably have to pass some of these costs on to consumers. The cost of shipping goods from China has surged since the onset of the COVID-19 pandemic, while The Reject Shop’s CEO Andre Reich says spot shipping rates have blown out to about $2,500; this compares with $US450 to $US500 for contracted rates. Some retailers have indicated that they intend to absorb the increased freight costs.

CORPORATES
THE REJECT SHOP LIMITED – ASX TRS

Nine’s cyber hack still far from over

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Original article by Sophie Elsworth
The Australian – Page: 3 : 6-Apr-21

Nine Entertainment Company has informed staff that its technology teams have made "remarkable progress" in restoring its key operational systems in the wake of a major cyber attack. However, the media giant has advised that it will be some time before all systems are fully restored, and many employees have been asked to keep working from home. Cybersecurity experts have estimated that the attack could potentially cost Nine more than $1m. It disrupted Nine’s broadcast operations in Sydney, as well as the print editions of its newspapers.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Foxtel can halve Australian drama production under new broadcasting bill

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 1-Apr-21

Screen Producers Australia CEO Matthew Deaner has questioned the federal government’s decision to slash Foxtel’s local drama quota in its new broadcasting bill. Foxtel is currently required to allocate 10 per cent of its drama budget to producing Australian content, but the bill will reduce this to five per cent. Greens senator Sarah Hanson-Young has accused the government of favouring its "Murdoch mates"; she has also criticised the bill for failing to impose local content quotas on streaming video providers such as Netflix.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, SCREEN PRODUCERS AUSTRALIA, AUSTRALIAN GREENS, NETFLIX INCORPORATED