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Waislitz chips in $30m for papers

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Original article by John Stensholt
The Australian – Page: 21 : 9-Jul-19

Thorney Opportunities, the listed investment company of businessman Alex Waislitz, will finance 25 per cent of the deal to acquire the regional newspapers of Nine Entertainment Company. Waislitz’s private company, Thorney Investment Group, will also finance 25 per cent of the deal, while former Domain CEO Antony Catalano will contribute the balance. Waislitz and Catalano recently finalised the $115m deal to buy the regional assets from Nine.

CORPORATES
THORNEY OPPORTUNITIES LIMITED – ASX TOP, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA

Monumental egos collide in a failed radio plot to get rid of Alan Jones

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Original article by Leo Shanahan
The Australian – Page: 24 & 26 : 8-Jul-19

Veteran radio presenter Alan Jones has dominated Sydney’s breakfast slot for 15 years. However, a record defamation payout in September 2018 and several subsequent incidents involving Jones prompted 2GB owner Macquarie Media to look at replacing him with morning show host Ray Hadley. A number of factors were in Jones’s favour, including Nine Entertainment’s takeover of Fairfax and its controlling stake in Macquarie Media. Nine chairman Peter Costello wanted 2GB to retain Jones, while Nine was already struggling with the departure of Karl Stefanovic from ‘Today’. Jones also had the support of Macquarie Media chairman Russell Tate. Jones renewed his contract for another two years in May 2019.

CORPORATES
2GB, MACQUARIE MEDIA LIMITED – ASX MRN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED

Editorial, marketing cut put Bauer back in black

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Original article by Lilly Vitorovich
The Australian – Page: 23 : 5-Jul-19

Magazine publisher Bauer Media Australia has posted a $6.3m net profit for 2018, following a net loss of $11.3m in 2017. Bauer Media’s revenue of $224.3m was 13.7 per cent lower than previously, and included $142.1m in revenue from magazine sales and revenue of $48.8m from advertising. Bauer’s 2018 financial report also shows that it paid $3.1m in tax for the year, compared with just $1.9m previously.

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

Media bosses in dark on charges

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Original article by Rosie Lewis
The Australian – Page: 4 : 4-Jul-19

Attorney-General Christian Porter and Communications Minister Paul Fletcher held talks with media industry representatives on 3 July. The meeting failed to ease the media sector’s concerns about Australian Federal Police raids on the ABC’s Sydney office and the home of a News Corp Australia journalist in early June, and whether journalists will face prosecution as a result of the raids. Media executives have also expressed reservations about the government’s plans for the parliamentary joint committee on intelligence and security to hold an inquiry into press freedom.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SPECIAL BROADCASTING SERVICE (SBS), FREE TV AUSTRALIA LIMITED, AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE

Press freedom probe backed

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Original article by Rosie Lewis, Zoe Samios
The Australian – Page: 2 : 3-Jul-19

The parliamentary joint committee on intelligence and security will undertake an inquiry into the impact of police and intelligence agencies’ powers on freedom of the press. The inquiry was approved by federal cabinet on 2 July, and follows the recent police raids on the ABC’s offices and the home of a News Corp Australia journalist. Labor proposes to establish a separate inquiry into press freedom and the public’s right to know, while media companies advocate changes to laws affecting freedom of the press rather than a parliamentary inquiry.

CORPORATES
AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Tax fight left rare earths miner on the brink

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Original article by Paul Garvey
The Australian – Page: 17 & 20 : 1-Jul-19

Northern Minerals has spent $210m to date on its Browns Range rare earths project in Western Australia’s East Kimberley region. MD George Bauk says a dispute with the Australian Tax Office over a $10.8m research and development tax rebate nearly saw the company collapse in early 2019. The ATO also demanded that Northern Minerals repay $13.4m worth of previous R&D rebates. Bauk maintains that the Browns Range processing plant is an R&D site, as the technology it uses is still being developed and improved.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU, AUSTRALIAN TAXATION OFFICE, LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES

Australia’s lithium boom underwhelms

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Original article by Peter Ker
The Australian Financial Review – Page: 25 : 28-Jun-19

Lithium prices have fallen in 2019 as analysts had predicted, but not necessarily just for the reason that they had forecast. Analysts had suggested that a surge in supply would "crush" lithium prices, but reduced demand in China and a delay in developing and commissioning new capacity in China for converting Australia’s spodumene concentrate into battery-grade lithium have also been cited as factors. Australian lithium exports are certainly growing more slowly than expected.

CORPORATES
GALAXY RESOURCES LIMITED – ASX GXY, PILBARA MINERALS LIMITED – ASX PLS, ALLIANCE MINERAL ASSETS LIMITED – ASX A40, ALTURA MINING LIMITED – ASX AJM, OROCOBRE LIMITED – ASX ORE

Security laws used to avoid scrutiny, say media bosses

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Original article by Max Mason
The Australian Financial Review – Page: 5 : 27-Jun-19

News Corp Australasia chairman Michael Miller, Nine Entertainment CEO Hugh Marks and ABC MD David Anderson jointly addressed the National Press Club on 26 June. They discussed issues such as the Australian Federal Police’s recent media raids, the impact of national security laws on freedom of the press and the public’s right to know, and the need for an overhaul of defamation laws. Miller suggested that the AFP raids on the ABC’s Sydney office and the home of News Corp journalist Annika Smethurst constituted intimidation rather than investigation.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN FEDERAL POLICE, NATIONAL PRESS CLUB (AUSTRALIA), AUSTRALIA. ATTORNEY-GENERAL’S DEPT, FACEBOOK INCORPORATED, SUPREME COURT OF NEW SOUTH WALES

Media leaders united in fight for public’s right to know

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Original article by Zoe Samios
The Australian – Page: 3 : 26-Jun-19

Freedom of the press and the public’s right to know will be the key thrust of a joint address to the National Press Club by three of Australia’s top media executives on 26 June. The joint appearance of News Corp Australasia chairman Michael Miller, Nine Entertainment Company CEO Hugh Marks and ABC MD David Anderson follows the recent police raids on the offices of the public broadcaster and the home of News Corp journalist Annika Smethurst.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN FEDERAL POLICE, NATIONAL PRESS CLUB (AUSTRALIA), HIGH COURT OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA

News takes AFP raid fight to High Court

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Original article by Leo Shanahan
The Australian – Page: 6 : 25-Jun-19

The ABC and News Corp Australia will both challenge the constitutional validity of the Australian Federal Police’s recent media raids. The ABC will ask the Federal Court to rule that the AFP’s warrant was invalid on a number of grounds, including that it infringed the public broadcaster’s implied right of political communication. News Corp Australia will use similar arguments in the High Court; it will also seek confirmation from the AFP that it is no longer investigating the media group itself or journalist Annika Smethurst.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN FEDERAL POLICE, FEDERAL COURT OF AUSTRALIA, HIGH COURT OF AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN DEFENCE FORCE, AUSTRALIAN SIGNALS DIRECTORATE