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Arcadium investors sue over Rio takeover

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Original article by Elouise Fowler
The Australian Financial Review – Page: 15 : 17-Dec-24

Arcadium Lithium and its board of directors are facing legal action from three shareholders over the company’s acquisition by Rio Tinto. The investors contend that Arcadium’s directors had misled shareholders and failed in their fiduciary duty to maximise value in the $US6.7 billion ($9.9 billion) deal. Rio Tinto has not been named as a defendant in the lawsuits. The proposed merger will require the support of at least 75 per cent of Arcadium’s shareholders when they vote on the deal next week.

CORPORATES
ARCADIUM LITHIUM PLC – ASX LTM, RIO TINTO LIMITED – ASX RIO

Rocky start to Lew’s British adventure

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Original article by Eli Greenblat
The Australian – Page: 13 & 16 : 17-Dec-24

Internal documents have revealed that Solomn Lew’s Premier Investments is having problems in both the UK and Australia. Sales from the first three UK stores of its sleepwear brand Peter Alexander are trading at 61.6 per cent below budget, while sales for its Smiggle brand in the UK between August and last weekend were down 12.2 per cent on the same period last year. Premier Investments’ other retail and fashion brands in Australia are also seeing negative sales growth when compared to 2023, with those brands including Jacqui E and Just Jeans.

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, PETER ALEXANDER SLEEPWEAR PTY LTD, SMIGGLE PTY LTD, JACQUI E PTY LTD, JUST JEANS PTY LTD

ABC to get extra $126m funding after election

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Original article by Ronald Mizen
The Australian Financial Review – Page: 4 : 17-Dec-24

The federal government will boost funding for the ABC in its Mid-Year Economic and Fiscal Outlook statement. Communications Minister Michelle Rowland has advised that the public broadcaster will receive an additional $40.9m in 2026-27, $42.2m in the following financial year and $43m in 2028-29. Rowland has also indicated that the government will legislate five-year funding agreements for the ABC. The former Coalition government had significantly reduced the ABC’s funding.

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

Action-packed year tipped for lithium deals

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Original article by Alex Gluyas
The Australian Financial Review – Page: 23 : 17-Dec-24

Mergers and acquisitions activity in Australia’s critical minerals sector has been subdued in 2024; there have been just 25 such deals, compared with 49 in the previous calendar year. However, the total value of deals in the sector has risen from $5.3bn in 2023 to $14.8bn in the year to date. Law firm Allens is upbeat about the outlook for the critical minerals sector in 2025, forecasting an upturn in M&A activity that will flow through to other resources commodities.

CORPORATES
ALLENS

Arcadium investors sue over Rio takeover

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Original article by Elouise Fowler
The Australian Financial Review – Page: 15 : 17-Dec-24

Arcadium Lithium and its board of directors are facing legal action from three shareholders over the company’s acquisition by Rio Tinto. The investors contend that Arcadium’s directors had misled shareholders and failed in their fiduciary duty to maximise value in the $US6.7 billion ($9.9 billion) deal. Rio Tinto has not been named as a defendant in the lawsuits. The proposed merger will require the support of at least 75 per cent of Arcadium’s shareholders when they vote on the deal next week.

CORPORATES
ARCADIUM LITHIUM PLC – ASX LTM, RIO TINTO LIMITED – ASX RIO

Rio weighs up another lithium play

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Original article by Brad Thompson
The Australian – Page: 16 : 11-Dec-24

Rio Tinto’s board is expected to approve a proposal to increase the annual production capacity of its Rincon lithium project in Argentina to 60,000 tonnes. Rio Tinto recently advised of the first production from a pilot plant at Rincon, more than two years after it acquired the project for $US825m. Barrenjoey is of the view that Rio Tinto may direct some of its $US800m worth of unallocated capital expenditure to the Rincon project. Rio Tinto is also seeking to acquire Arcadium Lithium, with the target’s shareholders set to vote on the $US6.7bn deal on 23 December.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ARCADIUM LITHIUM PLC – ASX LTM, BARRENJOEY CAPITAL PARTNERS PTY LTD

Rupert Murdoch loses bid to change control of family trust

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Original article by Jessica Toonkel, Katherine Sayre
The Australian – Page: 15 : 11-Dec-24

Nevada probate commissioner Edmund Gorman jnr has rejected a bid by media mogul Rupert Murdoch to change the terms of a family trust in favour of his oldest son, Lachlan. At present, Murdoch’s four oldest children will have equal control of the 93-year-old’s media empire when he dies; however, Murdoch had sought to give Lachlan full control of the trust, and therefore its voting stakes in News Corporation and Fox Corp. A lawyer for Murdoch has flagged plans to appeal the ruling.

CORPORATES
NEWS CORPORATION – ASX NWS, FOX CORPORATION

Nine mulls future of talkback amid exits and cuts

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 21 : 9-Dec-24

Nine Entertainment’s radio division posted revenue of $103m in 2023, compared with $131.8m in 2019. Nine Radio contributes less than four per cent of the listed media group’s overall revenue, and 1.6 per cent of group EBITDA. Nine’s flagship radio stations are focused on talkback, which is competing with podcasts and streaming music platforms for audiences. Nine Radio director Tom Malone is confident about the future of the group’s radio arm. However, further on-air changes at Nine’s radio stations are possible following an overhaul at 6PR in Perth, where a recent ‘reset’ resulted in several presenters being axed and the breakfast show being extended by an hour.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE RADIO PTY LTD, 6PR SOUTHERN CROSS RADIO PTY LTD

Broadcasters go all in on reality shows

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 12 & 17 : 3-Dec-24

The Nine Network’s head of programming Hamish Turner notes that the death of reality television had been forecast two decades ago. However, the format remains as popular as ever, and research from Ampere Analysis has found that unscripted shows now account for 75 per cent of all TV programs that are commissioned worldwide. Unscripted shows also comprise four out of every five TV shows that are commissioned in Australia. Local free-to-air networks will rely heavily on reality TV again in 2025; the Ten Network will broadcast the latest iteration of ‘Big Brother’, more than 20 years after launching the format in Australia.

CORPORATES
NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, AMPERE ANALYSIS

Red flags: Canberra warning to China on rare earths project

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Original article by Brad Thompson
The Australian – Page: 13 & 16 : 3-Dec-24

Rare earths producer Northern Minerals is continuing to attract scrutiny from the federal government regarding its links to Chinese investors. A spokesman for the Treasury has advised that it assesessing compliance with an order requiring five China-linked entities to divest shares in the company. The spokesman said the government will take further action if required to protect the national interest. Singapore-registered Yuxiao Fund is one of the entities that was required to divest shares; however, Northern Minerals has not been able to contact one of the Hong Kong-registered ­companies that acquired the shares.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU, AUSTRALIA. DEPT OF THE TREASURY, YUXIAO FUND