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Free-to-air TV takes a $2bn tumble

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Original article by Max Maddison
The Australian – Page: 25 : 24-Feb-20

Australia’s three commercial free-to-air networks have written down the value of their broadcasting licences by $2.276bn since 2015. Amongst other things, the networks are facing growing competition from subscription video-on-demand services, which are not subject to the same regulation as traditional broadcasters and do not pay tax in Australia. Research by Roy Morgan in 2019 showed that nearly 14 million Australians had a paid subscription to a streaming service.

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SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED, ROY MORGAN LIMITED

ABC eclipses rivals on bias inquiry list

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Original article by Leo Shanahan
The Australian – Page: 23 & 25 : 24-Feb-20

Of the 40 published reports produced by the Australian Communications & Media Authority between July 2015 and June 2019 that were prompted by complaints, 25 related to the ABC. ACMA found four breaches as a consequence of its published reports, with three relating to the ABC in regard to issues of fairness, impartiality and reply, including one relating to a report on former prime minister Tony Abbott. The revelations regarding the ABC come at a time when ACMA is conducting a review into commercial influence on free-to-air and subscription television news.

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AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN BROADCASTING CORPORATION

Seven slumps on downgrade

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Original article by Lilly Vitorovich
The Australian – Page: 17 & 23 : 19-Feb-20

Seven West Media has posted a 2018-19 interim net loss of $66.3m, with underlying EBIT down 21 per cent at $119.7 and revenue falling 3.2 per cent to $771.7m. The media group advised that its full-year earnings will be 13 per cent lower than previously forecast amid challenging condition in the advertising market, while CEO James Warburton has flagged the potential for "transformative" mergers and acquisitions. Seven will seek to reduce costs by 20 per cent in the second half, and it will consider asset sales.

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SEVEN WEST MEDIA LIMITED – ASX SWM

Ten bounces back from Big Bash League loss

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Original article by Zoe Samios
The Age – Page: Online : 17-Feb-20

New figures show that the Ten Network increased its share of the free-to-air TV advertising market by four percentage points in January, to 20.5 per cent. Ten’s share of advertising revenue fell to 16.4 per cent in January 2019, due to factors such as the loss of the Big Bash League broadcasting rights. This compares with 27.9 per cent in 2018, which was its last year as the BBL’s free-to-air broadcaster. The Nine and Seven networks’ share of ad revenue was 42.7 per cent and 36.9 per cent respectively in January.

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TEN NETWORK HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, BIG BASH LEAGUE

Boris tells BBC licence fee will be scrapped

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Original article by Tim Shipman
The Australian – Page: 9 : 17-Feb-20

The UK government proposes to overhaul the funding arrangements for the BBC by introducing a subscription fee instead of the traditional licence fee. However, BBC chairman Sir David Clementi warns that the move could result in some popular TV shows being cancelled, as well as less public service programming. The government’s proposals also include reducing the number of TV stations operated by the BBC, selling most of its radio stations and greater investment in the BBC World Service.

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BRITISH BROADCASTING CORPORATION

Lions tour for next rugby TV deal scrum

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 17-Feb-20

Rugby Australia hopes to sign off on a new broadcasting rights deal by the end of April, with Foxtel, Optus and Network Ten understood to have signed non-disclosure agreements for the negotiating process. It is believed that Rugby Australia has secured the 2025 British and Irish Lions tour to help make its five-year rights deal more appealing to broadcasters; it had previously been reported that the deal would not include the tour. Rugby Australia’s new rights deal will include over 400 matches, including New South Wales and Queensland club rights.

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RUGBY AUSTRALIA, FOXTEL MANAGEMENT PTY LTD, SINGTEL OPTUS PTY LTD, TEN NETWORK HOLDINGS LIMITED

Prosecutors drop more charges against media over Pell trial

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Original article by Liz Main
The Australian Financial Review – Page: 6 : 14-Feb-20

Twenty-eight charges brought against four of the 36 journalists and media companies charged with breaching suppression orders in relation to Cardinal George Pell have been dropped. The orders were imposed in June 2018, with the media directed not to report on two trials that Pell faced over historical child sex offences until a verdict was handed down in the second trial. When Pell was found guilty in the first trial, the media reported that a high profile person had been found guilty, but that they were not allowed to report it. Prosecutors claimed that the media hints amounted to a breach of the orders.

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SUPREME COURT OF VICTORIA, VICTORIA. DIRECTOR OF PUBLIC PROSECUTIONS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Foxtel reshuffles senior executive team as it resets its operating model

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Original article by Lilly Vitorovich
The Australian – Page: Online : 13-Feb-20

Foxtel has promoted Les Wigan to the role of executive director of operations and technology, with responsibility for technology platforms, services and operations across the pay-TV group’s operations. Wigan is currently chief operating officer at Foxtel’s Kayo Sports streaming service. Meanwhile, Foxtel’s director of customer service Lesley Portwain will take on the newly-created role of chief customer service officer. The management reshuffle was prompted by the resignation of chief operations officer Euan Smith.

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FOXTEL MANAGEMENT PTY LTD, KAYO SPORTS

Rio’s Kakadu uranium takeover faces blocking stake

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Original article by Peter Ker
The Australian Financial Review – Page: 16 : 11-Feb-20

Zentree Investments has confirmed it will take part in a $476 million equity raising by Energy Resources Australia (ERA). ERA plans to use the money raised from the issue of new shares to finance the rehabiliation of uranium assets in the Northern Territory. Rio Tinto owns 68.39 per cent of ERA, and could boost its stake to over 90 per cent through the capital raising, as most of ERA’s minority shareholders are not expected to participate. This would allow it to move to move to compulsorily acquire the remaining ERA shares. Zentree currently owns 15.94 per cent of ERA, and can keep its stake at above 10 per cent if it buys around $48 million worth of new shares.

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ZENTREE INVESTMENTS, ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, RIO TINTO LIMITED – ASX RIO

Seven warning as rugby rights deal in balance

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Original article by Leo Shanahan
The Australian – Page: 23 : 10-Feb-20

Super Rugby matches are exclusively shown on Foxtel under Rugby Australia’s current broadcasting deal. With Foxtel having chosen not to renew its deal, RA is believed to be want at least one Super Rugby match to be shown on free-to-air TV under its next rights deal. However, factors such as low ratings for rugby matches and a crowded sports schedule may deter interest from commercial networks. Meanwhile, Seven West Media CEO James Warburton says sporting bodies need to deliver "incremental revenue and growth opportunities" for their broadcast partners.

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RUGBY AUSTRALIA, FOXTEL MANAGEMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, SINGTEL OPTUS PTY LTD