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Lynas refuses to risk staff in virus hot spot

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Original article by Brad Thompson
The Australian Financial Review – Page: 28 : 27-Nov-20

The US military is providing funding for a rare earths processing plant to be built in Texas under a partnership between Australian-listed rare earths producer Lynas Corporation and US-based Blue Line. The Pentagon wants the plant to be built to end to China’s dominance of "commercial-scale" separation of heavy rare earths materials. However, Lynas MD Amanda Lacaze has told its AGM that the plant could be delayed as it will not built without the involvement of its engineers, and she will not send anyone to Texas while COVID-19 cases in the state are so high. It is estimated that the plant will cost around $US50 million ($68 million).

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, BLUE LINE

Quotas plan for survival of broadcasters

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Original article by Richard Ferguson, Geoff Chambers
The Australian – Page: 8 : 27-Nov-20

The federal government will release a green paper on media industry reform on 27 November. Amongst other things, the reforms would introduce local content quotas for subscription video-on-demand providers, as well as the ABC and SBS. TV networks would also be offered a new broadcasting licence that has less regulation, in return for surrendering some of their frequency spectrum. This spectrum would then be auctioned, with the proceeds used for two new funds that will help to finance locally-produced news and drama content.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS

Open delay a serious blow to Nine’s plans for the year

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Original article by James Madden, Emily Ritchie
The Australian – Page: 19 : 23-Nov-20

The prospect of the Australian Open being delayed due to coronavirus restrictions could prove costly for Nine Entertainment. The grand slam tournament is traditionally a key vehicle for the host broadcaster to promote its program line-up for the new year. Audience numbers are also likely to be affected if the Open is shifted from mid-January to late February or March, when the official ratings year will have begun. Media analyst Martin Hickson of 1851 Capital says Nine should seek to renegotiate its broadcasting rights deal with Tennis Australia. Some top tennis players have warned that the Open will have to be cancelled if training is prohibited during the mandatory quarantine period.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN OPEN TENNIS, 1851 CAPITAL PTY LTD, TENNIS AUSTRALIA

Rudd and Turnbull will be called to give evidence at Senate inquiry into media diversity

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 12-Nov-20

The Senate’s environment and communications references committee will undertake an inquiry into media diversity after the federal government did not oppose the motion. The committee will begin accepting submissions immediately and will report by the end of November 2021. Former prime ministers Kevin Rudd and Malcolm Turnbull are amongst those who will be asked to appear before the inquiry. Rudd organised a petition calling for a royal commission into the market dominance of News Corp.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD

Viewers take slow track for Melbourne Cup

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Original article by Lilly Vitorovich
The Australian – Page: 22 : 5-Nov-20

The Ten Network’s coverage of the 2020 Melbourne Cup attracted about 1.41 million viewers across the five major metropolitan markets, compared with 1.44 million in 2019. OzTAM’s figures also show that the national audience for the Melbourne Cup was 1.86 million viewers, down from 1.92 million in 2019. Ten’s coverage of the iconic horse race also attracted 144,000 viewers on its 10 Play broadcast video-on-demand service.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, OZTAM PTY LTD, THE LEXUS MELBOURNE CUP

Argyle closes but legend lives on

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Original article by Paul Garvey
The Australian – Page: 18 : 4-Nov-20

Production at Rio Tinto’s iconic Argyle diamond mine in Western Australia has formally ended after 37 years. More than 865 million carats of rough diamonds were produced at Argyle during its mine life, while it has accounted for about 95 per cent of global supply of pink diamonds. The mine also ended the De Beers diamond monopoly. It is expected to take about five years to close down the Argyle mine and rehabilitate the site.

CORPORATES
RIO TINTO LIMITED – ASX RIO, DE BEERS CENTRAL SELLING ORGANISATION

Kevin Rudd petition seeking royal commission into Murdoch media nears 500,000 signatures

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 4-Nov-20

More than 475,000 people have now signed a petition calling for a royal commission to ensure a strong, diverse Australian news media. The petition, which is specifically targeting the media outlets of Rupert Murdoch, was posted on the parliamentary website by former prime minister Kevin Rudd. Although the petition is unlikely to achieve its aim, Rudd says his main goal is to start a national conversation about News Corp’s negative impact on Australia.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Johnny Depp loses his libel case

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Original article by
The Australian – Page: 3 : 3-Nov-20

‘Pirates of the Caribbean’ star Johnny Depp has lost his libel case over an article that appeared in ‘The Sun’ newspaper in the UK. The article made claims that Depp was violent to former wife Amber Heard during their turbulent two-year marriage, with Depp having sued News Group Publishers, which owns ‘The Sun’, along with the journalist who wrote the article. Depp’s loss in the case followed three weeks of testimony that included claims of domestic violence and substance abuse, with Judge Andrew Nicol stating the article had been shown to be "substantially true".

CORPORATES
NEWS GROUP NEWSPAPERS LIMITED

Booktopia aims to raise $43.1m in IPO and list on ASX in December

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Original article by Samantha Bailey
The Australian – Page: Online : 3-Nov-20

Online book retailer Booktopia has announced plans to list on the ASX on 3 December, and is seeking to raise $43.1 million via an initial public offer. Booktopia claims it has a six per cent of the Australian book market, as well as accounting for just under 15 per cent of total internet consumer book sales in Australia. It generated revenue of $165.8 million in the 2020 financial year, and is forecasting revenue of $204.5 million in the 2021 financial year. Co-founder and CEO Tony Nash says he will be staying on as CEO when the company goes public, while he has no plans to sell any of his Booktopia shares in the IPO.

CORPORATES
BOOKTOPIA PTY LTD

It’s money in the till as Ritchies’ profit doubles

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 3-Nov-20

Independent supermarket retailer Ritchies has advised that its pre-tax profit for the 12 months ending June rose 98 per cent to $37.7 million. Net profit was up 79 per cent to $24.9 million, while sales increased by 14.7 per cent to $1.25 billion. CEO Fred Harrison said COVID-19 had helped bring about its better result, but he believes Ritchies was already on the improve before the pandemic hit. Harrison reaffirmed that he had no plans to exercise a put option to sell Ritchies to grocery, liquor and hardware wholesaler Metcash, which owns 26 per cent of Ritchies.

CORPORATES
RITCHIES STORES PTY LTD, METCASH LIMITED – ASX MTS