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Job losses loom as Warburton remakes Seven West Media

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Original article by Zoe Samios
The Australian – Page: 17 & 24 : 25-Sep-19

Seven West Media has declined to comment on speculation that it is poised to shed staff across its operations as part of a restructuring. CEO James Warburton flagged measures to reduce costs shortly after taking the helm in August, as well the potential for mergers and acquisitions in both the traditional and non-traditional media sectors. Seven West Media posted a $444.5m net loss in 2018-19.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, V8 SUPERCARS AUSTRALIA PTY LTD, APN OUTDOOR GROUP LIMITED, JC DECAUX SA

Local is lucrative for media companies

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Original article by Zoe Samios
The Australian – Page: 19 : 25-Sep-19

News Corp Australia executive Damian Eales addressed the NewsMediaWorks INFORM Summit on 24 September. He emphasised the importance of local journalism and news content in regional and rural areas, and noted that regional mastheads are the media group’s fastest-growing digital products. Eales added that with digital platforms gaining an increasing share of advertising revenue, traditional media companies have become much more reliant on paid subscriptions in order to keep providing quality journalism.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NEWSMEDIAWORKS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN COMMUNITY MEDIA

Radio deal not over till the fat lady sings

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 24-Sep-19

Wilson Asset Management holds a stake of about 2.91 per cent in Macquarie Media. WAM chairman Geoff Wilson believes that Nine Entertainment’s offer of $1.46 per share undervalues the takeover target, and that Macquarie’s independent board committee should seek a better deal. He contends that the committee must act in the best interests of minority shareholders rather than merely large investors. Wilson believes that a higher offer for Macquarie may yet emerge before Nine’s bid closes on 14 October.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WILSON ASSET MANAGEMENT

Guardian notches up another monthly satisfaction award, but are ratings soon to change?

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Sep-19

Guardian is the Roy Morgan Pharmacy/Chemist of the month for August 2019, with a customer satisfaction rating of 94%. It is followed by TerryWhite Chemmart (93%), Discount Drug Stores (91%), Chemist Warehouse (90%) and Priceline Pharmacy (90%). After winning the Chemist/Pharmacy of the Year Award in 2012, 2013 and 2014, Guardian spent the following four years behind other leading chemists and pharmacies. However, this month’s award takes Guardian to seven monthly awards for 2019, and therefore securing its fourth annual award. This customer satisfaction data has been obtained from the Roy Morgan Single Source survey, derived from in-depth face-to-face interviews with over 50,000 Australians each year in their homes.

CORPORATES
ROY MORGAN LIMITED, GUARDIAN PHARMACY, TERRYWHITE CHEMMART, DISCOUNT DRUGSTORES PTY LTD, CHEMIST WAREHOUSE, PRICELINE PHARMACY

Broadcasters, big tech at odds on revenue sharing

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 23-Sep-19

Free TV Australia states that a code of conduct is needed to govern commercial relationships between free-to-air broadcasters and digital platforms such as Google and Facebook. Free TV notes that when a free-to-air broadcasters’ content is uploaded to a platform, it is the owner of the digital platform that sets the terms of how that content is monetised. The Australian Competition & Consumer Commission has recommended a code of conduct be set up that would require digital platforms to negotiate arrangements with media companies regarding data sharing and revenue, and that the Australian Communications and Media Authority oversee the code. However, Free TV would prefer the ACCC to monitor it.

CORPORATES
FREE TV AUSTRALIA LIMITED, GOOGLE AUSTRALIA PTY LTD, FACEBOOK AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

$80m deal: Singleton sells out of radio after 60-year career

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Original article by Zoe Samios
The Australian – Page: 1 : 23-Sep-19

Nine Entertainment Company’s hopes of gaining full ownership of Macquarie Media have been boosted after John Singleton advised that he will accept the offer of $1.46 per share unless a higher bid emerges. The advertising industry veteran has a 32.2 per cent stake in the owner of radio stations such as 2GB and 3AW, and he will gain about $80m from the transaction. Singleton says he may invest in the media sector in the future, but he adds that breeding horses and canaries are now his top priority.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Brickworks sees new strength in housing nationwide

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Original article by Simon Evans
The Australian Financial Review – Page: 15 : 20-Sep-19

Brickworks released its results for the year ending 31 July on 19 September, with Australia’s biggest brickmaker reporting a net profit of $154.6 million, down 12 per cent. Brickworks’ Australian business recorded EBIT of $57 million, down 27 per cent, while it declared a final dividend of $0.38 per share, up six per cent, with payment of the dividend to be made on 27 November. Brickworks MD Lindsay Partridge says the housing market is starting to improve, while he called for greater regulation and tighter control of poor-quality building products and sub-standard construction practices.

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BRICKWORKS LIMITED – ASX BKW

Former Silverchair frontman sues Sunday Tele

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Original article by Max Mason
The Australian Financial Review – Page: Online : 20-Sep-19

Former Silverchair frontman Daniel Johns is suing ‘The Sunday Telegraph’ for defamation over an article that appeared in its 11 August edition. The article alleged Johns frequently attended an infamous brothel called The Kastle in the Sydney suburb of Chippendale. Johns, who has commenced proceedings against the newspaper, its editor and the journalist who wrote the story in the Supreme Court of Victoria, says the article is "simply untrue" and that he had not been aware of the brothel’s existence until he saw the story.

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Retailers warn tax cut stimulus effect is months away

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 19-Sep-19

Lower interest rates do not seem to be having a positive impact on retail sales, according to Peter Allen, the CEO of shopping centre owner Scentre Group. Allen told an Australia Israel Chamber of Commerce retail forum in Sydney on 18 September that consumers are seeing rate cuts as a sign the economy is slowing, and that they may need to be more careful with their spending. Daniel Agostinelli, the CEO of footwear retailer Accent Group, said that tax offset payments have not had any positive impact on its sales as yet, while Erica Berthold, the CEO of online fashion retailer The Iconic, said stimulus on its own was not enough to lift sales. Meanwhile, the latest ANZ-Roy Morgan Index has revealed that consumer confidence declined 3.5 per cent to a two-year low of 109.3 points.

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SCENTRE GROUP – ASX SCG

The challengers to China’s rare earth monopoly

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Original article by
rt.com – Page: Online : 12-Sep-19

China houses around 85 per cent of the world’s rare earths production capacity, with rare earths used in the making of products such as magnets and batteries, as well as having defence industry applications. The US imports around 75 per cent of its rare earths needs from China, and there is concern China could use this dominance as a weapon in the current China-US trade war. The Australian government recently flagged 15 rare earths mining projects that it will back as part of a combined effort with the US to combat China’s market dominance; the projects involve funding of $US$3.9 billion ($5.7 billion).

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC,{SHARE}AUSTRALIA. DEPT OF DEFENCE