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Directors warn of gradual recovery

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Original article by Damon Kitney, Glenda Korporaal
The Australian – Page: 13 & 17 : 4-Jan-21

The Australian Institute of Company Directors’ final sentiment survey for 2020 revealed that 80 per cent of directors expect an increase in mergers and acquisitions over the coming year. BlueScope Steel, Fortescue and Dexus director Penny Bingham-Hall has told an AICD round table forum that there is a lot of overseas money looking to "find a home" at the moment, while Amcor and ANZ director Graeme Liebelt told the forum that there was a risk that business expectations might get ahead of reality in 2021.

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AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, BLUESCOPE STEEL LIMITED – ASX BSL, FORTESCUE METALS GROUP LIMITED – ASX FMG, DEXUS – ASX DXS, AMCOR LIMITED – ASX AMC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COLES GROUP LIMITED – ASX COL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, SANTOS LIMITED – ASX STO

Climate risk to hit insurance premiums

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Original article by David Ross
The Australian – Page: 15 : 4-Jan-21

The results of an Australian Competition and Consumer Commission inquiry into insurance in Northern Australia were released in the week ending 1 January. The ACCC has called on the federal government to directly subsidise insurance premiums in Australia’s tropical north, with some insurance companies stating in submissions to the inquiry that they expect to start pricing for climate change risks for customers in that part of the nation. The ACCC noted that home insurance premium growth across northern Australia rose 178 per cent between 2007 and 2019, compared to a 52 per cent rise in the rest of the country over the same period. The ACCC also called for the scrapping of stamp duty on insurance products, which is imposed by state and territory governments.

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AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Double dose of SCG a boost for India

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Original article by Peter Lalor
The Australian – Page: Online : 4-Jan-21

The Indian cricket team stated on 3 January that they will not travel to Brisbane if they are forced to comply with strict quarantine requirements that would see them restricted to their hotel rooms while not playing. The team has made it clear from the beginning that one quarantine period was their limit, while the Queensland government has indicated it is not prepared to relax its quarantine rules for people coming from Sydney for the Indian cricket team. Unless the government backs down or the Indian team has a change of heart, there will be two Tests in a row at the SCG, a ground that the Indians traditionally do well at.

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House prices surge again as stimulus keeps market pumping

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Original article by Michael Bleby
The Australian Financial Review – Page: Online : 4-Jan-21

Figures to be released by CoreLogic on 4 January are expected to show that house prices in Australia’s five mainland capital cities rose by 0.9 per cent in December. Brisbane house prices are predicted to have risen 1.2 per cent in December, Melbourne is tipped to show an one per cent increase, while Sydney house prices are expected to have risen 0.7 per cent. AMP Capital chief economist Shane Oliver says house prices are being pushed up by a range of factors, including record low mortgage rates, but issues such as high unemployment and subdued rental markets are likely to weigh on inner city areas and units in Sydney and Melbourne.

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CORELOGIC AUSTRALIA PTY LTD, AMP CAPITAL INVESTORS LIMITED

Foxtel, Telstra extend AFL rights deal

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Original article by Max Mason
The Australian Financial Review – Page: Online : 24-Dec-20

Foxtel has secured a deal with the Australian Football League to extend its existing broadcasting rights deal by two years. Telstra has also extended its rights deal to include the 2023 and 2024 seasons, while the Seven Network struck a similar deal earlier in 2020. The three companies will pay a combined $946m for broadcasting and streaming rights for the 2023 and 2024 seasons. Telstra will also become the official technology partner of Melbourne’s Marvel Stadium, which is owned by the AFL.

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FOXTEL MANAGEMENT PTY LTD,TELSTRA COMMUNICATIONS PVT LTD,AUSTRALIAN FOOTBALL LEAGUE,SEVEN NETWORK LIMITED,SEVEN WEST MEDIA LIMITED – ASX SWM

Survival of the fittest: Media’s toughest year in decades

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Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 21-Dec-20

Few would disagree that 2020 has been the toughest year for the Australian media sector for decades. The year began with the remnants of the summer bushfires, before the sector was hit by the impact of COVID-19. The virus saw media companies lose huge amounts of revenue, while forcing big changes to the way that production houses and newsrooms operated. The year has been one of mergers and restructures, of shutting down newspaper and magazine titles, and of executive and talent changes. Competition increased within the streaming sector, media outlets continued their stoush with Google and Facebook, while relations between ABC chair Ita Buttrose and the federal government became increasingly strained over the course of the year.

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GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN BROADCASTING CORPORATION, SEVEN WEST MEDIA LIMITED – ASX SWM, TELSTRA CORPORATION LIMITED – ASX TLS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORPORATION – ASX NWS, VILLAGE ROADSHOW LIMITED – ASX VRL, OOH!MEDIA LIMITED – ASX OML, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

Cricket Australia discussed shifting broadcast rights to Nine

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Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 21-Dec-20

Sources have indicated that the bitter legal dispute with Seven West Media prompted Cricket Australia to hold informal talks with Nine Entertainment about taking over the broadcasting rights. The informal talks are believed to have ended when Cricket Australia recently received a $12.5m instalment payment from Seven. The media group pays about $70m a year for the free-to-air rights, as part of a six-year deal with Cricket Australia and pay-TV group Foxtel. Amongst other things, Seven is seeking a discount of about 20 per cent due to coronavirus-induced changes to the cricket schedule for the 2020-21 summer.

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SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, CRICKET AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD

March court start for Seven’s cricket battle

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Original article by Lilly Vitorovich
The Australian – Page: 15 : 16-Dec-20

The legal dispute between Seven West Media and Cricket Australia will be heard by the Federal Court in mid- March. Seven may seek damages or an order to terminate its broadcasting rights deal if the court rules in its favour. The case centres on CA’s changes to its itinerary for the 2020-21 season due to the coronavirus pandemic. Seven contends that it was commercially disadvantaged by CA’s decision to start the season with three one-day international matches against India, which were broadcast exclusively by Fox Sports.

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SEVEN WEST MEDIA LIMITED – ASX SWM, CRICKET AUSTRALIA, FEDERAL COURT OF AUSTRALIA, FOX SPORTS AUSTRALIA PTY LTD

Fletcher rules out sacking Buttrose over ABC investigation

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Original article by Ronald Mizen
The Australian Financial Review – Page: 4 : 14-Dec-20

The ABC continues to attract scrutiny in the wake of a controversial ‘Four Corners’ report on the personal lives of two federal government ministers. However, Communications Minister Paul Fletcher has refuted suggestions that the government could sack ABC chair Ita Buttrose, stating that he has confidence in the way she is handling a "challenging and very important job". Fletcher has also defended his decision to send a letter to the ABC board in late November querying the decision to broadcast the news story in question.

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AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS

Seven aims to make cricket pay

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Original article by Ben Horne, Peter Lalor
The Australian – Page: 24 & 22 : 2-Dec-20

The Seven Network alleges that it has suffered significant commercial damage due to Cricket Australia’s changes to its match schedule for the 2020-21 summer. Australia was originally slated to play three Tests against India before Christmas, but CA has delayed two of these matches until the new year, while the revised schedule saw the cricket season begin with a six-match One-Day International series that is exclusive to Fox Sports. CA has cited the coronavirus pandemic as the key reason for changes to the schedule, but Seven contends that the Board of Control for Cricket in India exerted pressure to make the changes.

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SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, CRICKET AUSTRALIA, BOARD OF CONTROL FOR CRICKET IN INDIA