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Tough love necessary, says News

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Original article by Max Mason
The Australian Financial Review – Page: 22 : 18-Jun-20

News Corporation’s CEO Robert Thomson says the media group’s decision to axe the print editions of 112 regional and community newspapers was not taken lightly. The bulk of the titles will become digital-only publications, but 36 will be discontinued completely. Thomson says this was necessary to ensure the viability of the titles that will become digital-only. The number of News Corp journalists working on regional and community mastheads will be reduced from more than 1,200 to just 375.

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

Bauer Media offloads Aussie magazine arm for $50m, eight years after buying it for $525m

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Original article by Shannon Molloy
News.com.au – Page: Online : 18-Jun-20

Private equity firm Mercury Capital has struck a deal to acquire the Australian magazines business of Bauer Media. The sale price has not been disclosed, although it is believed to be less than $50m. Germany-based Bauer bought ACP Magazines for $525m in 2012, and it recently paid $40m for the Pacific Magazines division of Seven West Media. The Mercury Capital deal is expected to be completed in July.

CORPORATES
BAUER MEDIA AUSTRALIA PTY LTD, MERCURY CAPITAL PTY LTD, BAUER MEDIA KG, PACIFIC MAGAZINES PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM

Catalano and Seven discussed news deal

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Original article by Max Mason, Sarah Thompson
The Australian Financial Review – Page: 15 : 17-Jun-20

Sources have indicated that Antony Catalano is the previously undisclosed party to whom Seven West Media provided detailed financial information about its West Australian Newspapers business earlier in 2020. A deal for Catalano’s Australian Community Media to acquire WAN did not progress beyond initial discussions, and Seven West director Ryan Stokes advised at the time that the group had no plans to sell the business. Catalano was also holding talks with News Corp Australia about buying its portfolio of regional and community newspapers, a deal that also did not eventuate.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED, AUSTRALIAN COMMUNITY MEDIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Contract discounts cost AFL $150m

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Original article by John Stensholt
The Australian – Page: 3 : 12-Jun-20

Foxtel and Seven West Media struck revised broadcast deals with the Australian Football League just prior to the 2020 AFL season resuming on 11 June. The revised deals followed the AFL season being suspended for three months because of COVID-19, and will result in the two companies saving around $200 million on their AFL coverage over the next three years. Television companies had argued broadcast rights are worth less now than what they were previously because the AFL season has been shortened and the length of games have been reduced, while a lack of crowds has arguably reduced the quality of the broadcasts.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN FOOTBALL LEAGUE

Regional TV on verge of market failure

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Original article by Max Mason
The Australian Financial Review – Page: 12 : 12-Jun-20

The federal government may relax the local content requirements for regional TV broadcasters’ multi-channels due to their consistent failure to meet the hours-based quotas. The Department of Infrastructure, Transport, Regional Development & Communications notes that 12 regional or remote TV stations failed to comply with the Australian content quotas in 2017. This is primarily because regional broadcasters often chose not to carry some of the secondary channels of their metropolitan affiliates.

CORPORATES
AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS

Buy Australian, streaming services told

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Original article by Tom Burton, Max Mason
The Australian Financial Review – Page: 1 & 12 : 12-Jun-20

A draft options paper from Screen Australia and the Australian Communications & Media Authority has outlined a range of possible changes to broadcasting rules. Amongst other things, the industry options paper proposes that subscription video-on-demand providers be subject to the same local content rules that apply to traditional broadcasters. Screen Australia and ACMA have also suggested that commercial networks could be released from their obligation to broadcast children’s content, given that many younger viewers now prefer to watch content online; the ABC would become the main provider of children’s programming on linear TV.

CORPORATES
SCREEN AUSTRALIA, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN BROADCASTING CORPORATION

Foxtel locks in Super Rugby deal

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Original article by Max Mason
The Australian Financial Review – Page: 3 : 11-Jun-20

Pay-TV group Foxtel will broadcast a scaled-down Super Rugby season after the traditional five-nation competition was cancelled due to the coronavirus. The revised 2020 tournament will comprise five Australian teams, which will play a 10-week round-robin series followed by a two-week finals series. Rugby Australia has yet to secure a broadcasting rights deal beyond 2020.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, RUGBY AUSTRALIA

More jobs to go at News Corp in metro restructure

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Original article by Zoe Samios
The Age – Page: Online : 10-Jun-20

News Corp Australia has advised that plans to centralise the production and editorial operations of its metropolitan mastheads will result in job losses. The job cuts will affect staff of ‘The Daily Telegraph’ and the ‘Herald Sun’, with news content to be shared across the two newspapers. The move follows News Corp’s recent decision to discontinue the print editions of many regional and community newspapers, which affected more than 600 jobs. There will also be some job cuts at its flagship national masthead, ‘The Australian’.

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

ABC pushes ahead with job cuts in arduous year

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Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 10-Jun-20

ABC MD David Anderson has informed staff that budget cuts will force the public broadcaster to retrench more than 200 employees. Anderson also indicated that the ABC will initially seek voluntary redundancies in divisions that are likely to lose at least 10 employees, although forced redundancies will also be necessary. The ABC will releases its five-year plan later in June; it was delayed earlier in 2020 due to the coronavirus pandemic. The federal government imposed a three-year funding freeze on the ABC in 2019.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

AAP enters final stages of sale, will continue to operate but says some jobs will be lost

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Original article by Hannah Blackiston
Mumbrella – Page: Online : 9-Jun-20

A consortium of investors and philanthropists headed by former News Corp Australia CEO Peter Tonagh is set to acquire the newswire business of Australian Associated Press. The consortium has commenced negotiations with AAP for a binding sale contract, and the deal is expected to be finalised by mid-June. The Media, Entertainment & Arts Alliance has welcomed the deal to sell the AAP Newswire business, but notes that it will result in the loss of some jobs. The consortium will retain 85-90 jobs, including at least 70 editorial staff. AAP’s existing shareholders will retain the other parts of its business.

CORPORATES
AUSTRALIAN ASSOCIATED PRESS PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS