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Retail king Harvey says: ‘I’m never going to retire’

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 15 : 2-Sep-19

Harvey Norman chairman Gerry Harvey says the company recorded three per cent growth in same-stores sales during the first two months of 2019-20. The furniture and consumer electronics retailer’s pre-tax net profit for 2018-19 was 8.4 per cent higher than previously, at $574.56m. Meanwhile, Harvey has ruled out retirement, despite approaching his 80th birthday.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Streaming subscriptions on the rise as TV ad revenue comes under pressure

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Original article by Stephanie Chalmers
abc.net au – Page: Online : 2-Sep-19

Overall television advertising revenue was down by over four per cent in 2018-19, but revenue from advertising on broadcaster video-on-demand services jumped 32 per cent. Research by Telsyte indicates that over 50 per cent of Australian households have a video-on-demand paid subscription, with 43 per cent of households having more than one subscription. New Seven West Media CEO James Warburton says the company is exploring possible streaming partnerships in the subscription video-on-demand sector.

CORPORATES
TELSYTE PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Competition no worry for Lynas

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Original article by Nick Evans
The Australian – Page: 20 : 30-Aug-19

Rare earths miner Lynas Corporation has posted a 2018-19 net profit of $80m, compared with $53.1m previously. However, EBITDA fell to $100.7m and revenue was also lower at $363.5m. Meanwhile, CEO Amanda Lacaze is not unduly concerned by the mining sector’s growing interest in rare earths, arguing that increased competition could benefit Lynas. She is also optimistic that the Malaysian Government will renew the company’s full operating licence after agreeing to extend its current licence by six months.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, NORTHERN MINERALS LIMITED – ASX NTU, ILUKA RESOURCES LIMITED – ASX ILU

Jones socks it to rivals despite the drama

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Original article by Zoe Samios, Lilly Vitorovich
The Australian – Page: 3 : 28-Aug-19

GfK’s latest radio ratings survey data shows that 2GB retained its title as Sydney’s leading radio station, with its overall audience share falling 0.6 per cent to 13.4 per cent. The audience share of Alan Jones in 2GB’s breakfast slot fell to 17.1 per cent in the wake of his controversial comments about New Zealand Prime Minister­ Jacinda Ardern. Kyle Sandilands and Jackie Henderson continued to dominate Sydney’s breakfast slot on FM radio. Meanwhile, 3AW remains the highest-rating station in Melbourne in both the breakfast and morning slots.

CORPORATES
GFK PTY LTD, 2GB, KIIS1065, MACQUARIE MEDIA LIMITED – ASX MRN, 3AW SOUTHERN CROSS RADIO PTY LTD

Why networks still bet billions on football

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Original article by Zoe Samios
The Australian – Page: 23 : 26-Aug-19

Australia’s commercial TV networks have claimed that the sports broadcasting model is ‘broken’, but their latest financial results suggest otherwise. Seven has indicated that audiences for its coverage of AFL matches are 10 per cent higher than in 2018, and Nine says its NRL revenue has increased by one per cent over the last year. However, data from OzTAM shows that the audience for Nine’s NRL coverage has fallen 3.7 per cent year-on-year so far in 2019. The combined NRL audience share of Nine and Foxtel has also fallen in 2019.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, VIZEUM, OZTAM PTY LTD, ATOMIC 212

ABC seeks to put more content on Foxtel

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Original article by Leo Shanahan
The Australian – Page: 23 : 26-Aug-19

About 14.5 per cent of Australian households in metropolitan areas and nine per cent in regional areas view the ABC via Foxtel at present. The ABC’s board recently agreed to review its retransmission deal with the pay-TV group, which costs $4m a year. Union representatives are amongst those who have expressed concern about the arrangement, although it is expected to be renewed. However, there is speculation that the ABC will shift some of its content from Foxtel to its own platforms.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NETFLIX INCORPORATED, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Rising costs and tough TV ad market eat into Nine’s profit

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 23-Aug-19

Nine Entertainment Company has posted a 2018-19 statutory net profit from continuing operations of $216.6m, which is three per cent higher than previously. Challenging conditions in the advertising market saw the Nine Network’s revenue fall by six per cent to $1.09bn; its costs rose four per cent to $876.6m, and Nine expects a similar increase in costs during 2019-20. The group’s publishing division posted full-year earnings of $82.7m, compared with $50.2m previously. Shareholders will receive a final dividend of $0.05 per share, and a full-year payout of $0.10.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED, MACQUARIE MEDIA LIMITED – ASX MRN, STAN ENTERTAINMENT PTY LTD, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, SEVEN WEST MEDIA LIMITED – ASX SWM

Potash bull sees upside in BHP push at Jansen

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Original article by Peter Ker
The Australian Financial Review – Page: 23 : 22-Aug-19

BHP expects to have a capital expenditure budget of about $US8bn for fiscal 2021, and CEO Andrew Mackenzie has indicated that less than $US500m will be allocated to the Olympic Dam mine in South Australia and the Jansen potash project in Canada. A decision on whether to proceed with the Jansen project is likely within 18 months. Getting it to the production stage is slated to cost between $US5.3bn and $US5.7bn, and Tal Lomnitzer of Janus Henderson says rising global demand for food means the project will deliver long-term benefits for BHP and its shareholders.

CORPORATES
BHP GROUP LIMITED – ASX BHP, JANUS HENDERSON GROUP PLC – ASX JHG, ELLIOTT MANAGEMENT CORPORATION

ABC loses bid to see federal police reasons for search warrant

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Original article by Hannah Wootton
The Australian Financial Review – Page: 11 : 21-Aug-19

The Federal Court has ruled that the ABC had no "proper basis" for its claim that the Australian Federal Police failed to consider public policy factors when it applied for a warrant to search the public broadcaster’s Sydney offices in June. These factors included the protection of journalists’ sources and the implied freedom of political communication in the Constitution. The ABC is seeking to have the AFP’s warrant declared invalid and return of documents that were seized in the raid.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN FEDERAL POLICE, FEDERAL COURT OF AUSTRALIA

Seven set for tough result as ratings flop

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Original article by Zoe Samios, Leo Shanahan
The Australian – Page: 23 : 19-Aug-19

Tribeca Investment Partners’ Jun Bei Liu expects Seven West Media to announce weak earnings and writedowns when its 2018-19 financial results are released on 20 August. The media group had issued a profit warning in May, and the Seven Network’s audience share is currently 2.4 per cent lower year-on-year. In contrast, the Nine Network’s audience share has risen by 3.4 per cent. New Seven West CEO James Warburton has noted that the Seven Network has some "ageing formats"; data from OzTAM shows that ‘My Kitchen Rules’ and ‘House Rules’ in particular have lost significant audience share in recent years.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED, TRIBECA INVESTMENT PARTNERS PTY LTD, OZTAM PTY LTD