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HT&E tunes in to potential deals after strengthening balance sheet

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Original article by Max Mason
The Australian Financial Review – Page: 19 : 14-Feb-19

Radio broadcaster HT&E has posted a net profit of $36.7m for calendar 2018, which is 23 per cent higher than previously. Revenue was five per cent higher at $271.8m and EBITDA rose seven per cent to $71.8m. The company’s Australian Radio Network division has posted revenue of $235.5m and EBITDA of $84.6m for the year. CEO Ciaran Davis says HT&E is open to acquisitions, but he says there are no "definitive opportunities" at present.

CORPORATES
HT&E LIMITED – ASX HT1, AUSTRALIAN RADIO NETWORK PTY LTD, ADSHEL PTY LTD, NZME LIMITED – ASX NZM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, ALLAN GRAY AUSTRALIA PTY LTD

Radio star Jones fights to overturn gag order

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Original article by Charlie Peel
The Australian – Page: 1 & 2 : 14-Feb-19

A Brisbane court is hearing an application to lift an injunction that prevents veteran radio broadcaster Alan Jones from repeating imputations that prompted a record defamation payout in 2018. The Wagner family was awarded $3.75m in damages after the Supreme Court ruled that Jones had defamed them in a series of broadcasts on 2GB and 4BC. The Wagners’ lawyer has argued that the injunction simply prevents Jones from repeating the allegations and does not prevent him from discussing the case.

CORPORATES
2GB, RADIO 4BC BRISBANE PTY LTD, SUPREME COURT OF QUEENSLAND, COURT OF APPEAL (QUEENSLAND)

Directors walk out of DJs’ parent firm

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Original article by Sue Mitchell
The Australian Financial Review – Page: 21 : 13-Feb-19

Gail Kelly and Patrick Allaway have resigned from the board of Woolworths Holdings. They had been re-elected as non-executive directors of the South Africa-based group in late 2018, prompting investors to speculate about the reason for their departure. Woolworths Holdings owns Australian department store chain David Jones, whose CEO David Thomas recently resigned for personal reasons. An investigation by law firm Ashurst had previously cleared him of a discrimination allegation.

CORPORATES
WOOLWORTHS HOLDINGS LIMITED, DAVID JONES LIMITED, ASHURST LLP, WESTPAC BANKING CORPORATION – ASX WBC, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, COUNTRY ROAD LIMITED

JB Hi-Fi surges as tech reigns

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Original article by Eli Greenblat
The Australian – Page: 19 : 12-Feb-19

Consumer electronics retailer JB Hi-Fi has posted a 2018-19 interim net profit of $160.1m, which is 5.5 per cent higher than previously. JB Hi-Fi has forecast that its full-year net profit will be within the range of $237m to $245m; full-year sales are expected to be $7.1bn, after sales totalled $3.843bn in the first half. CEO Richard Murray says consumers still seem to be buying gadgets such as smartphones and internet-connected fridges, at a time when many discretionary retailers are struggling.

CORPORATES
JB HI-FI LIMITED – ASX JBH, THE GOOD GUYS, OPHIR ASSET MANAGEMENT PTY LTD

Digital market abuse almost limitless: News

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Original article by Andrew White
The Australian – Page: 27 : 9-Feb-19

News Corporation has posted revenue of $US2.63bn ($3.7bn) for the December 2018 quarter, an increase of 21 per cent. EBITDA rose by 13 per cent to $US370m following the merger of Foxtel and Fox Sports, while the media group’s net profit of $US119m compares with a loss of $US66m for the same period in 2017. Meanwhile, News Corp CEO Robert Thomson has criticised the growing dominance of digital platforms in the US audiobooks market. He has called for a "regulatory reckoning" to address the issue.

CORPORATES
NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, AMAZON.COM INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, HARPERCOLLINS, DOW JONES AND COMPANY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Labor demands say on picking Aunty’s chair

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Original article by Lilly Vitorovich
The Australian – Page: 3 : 6-Feb-19

Shadow communications minister Michelle Rowland says Labor should be consulted about the appointment of a successor to Justin Milne as chairman of the ABC. She has criticised the federal government’s poor record with regard to ensuring the ABC’s independence, noting in particular its failure to respect the independent nomination panel process for appointments to the board. The ABC’s ‘Media Watch’ program has reported that Communications Minister Mitch Fifield was given a shortlist of three candidates in mid-January.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, GILBERT AND TOBIN LAWYERS, CITIGROUP PTY LTD, AUSTRALIAN FOOTBALL LEAGUE

Private equity funds size up regional titles

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Original article by Lilly Vitorovich
The Australian – Page: 24 : 4-Feb-19

Allegro Funds, Anchorage Capital and Platinum Equity are said to be the leading contenders to acquire Nine Entertainment Company’s portfolio of regional newspapers, which it inherited via the merger with Fairfax Media. Independent expert Grant Samuel had valued Fairfax’s Australian Community Media division at $100m to $120m in 2018, and the business generates EBITDA of around $52m a year. Nine is also believed to be looking to sell Fairfax’s New Zealand business, Stuff.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, AUSTRALIAN COMMUNITY MEDIA, ALLEGRO FUNDS PTY LTD, ANCHORAGE CAPITAL PARTNERS PTY LTD, PLATINUM EQUITY HOLDINGS, STUFF LIMITED, RURAL PRESS LIMITED, APOLLO GLOBAL MANAGEMENT LLC, MACQUARIE CAPITAL PTY LTD, TPG CAPITAL LP, GRANT SAMUEL AND ASSOCIATES PTY LTD, JEFFERIES AND COMPANY, HT&E LIMITED – ASX HT1, NZME LIMITED – ASX NZM, MACQUARIE MEDIA LIMITED – ASX MRN

Labor flags modern rules for the media

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Original article by John Kehoe, Max Mason
The Australian Financial Review – Page: 30 : 4-Feb-19

Shadow communications minister Michelle Rowland says public interest journalism will be a priority for Labor if it wins the 2019 federal election. She adds that Labor will also pursue changes to the media industry’s regulatory framework, arguing that it was designed for the analogue era and is outdated. Rowland adds that Labor would not seek to reverse the federal government’s cross-media ownership reforms, despite having opposed the abolition of the ‘two-out-of-three rule’.

CORPORATES
AUSTRALIAN LABOR PARTY, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GILBERT AND TOBIN LAWYERS, NETFLIX INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Battle of the books: MUP loses its spine

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Original article by Chip Le Grand, Rachel Baxendale
The Australian – Page: 1 & 7 : 31-Jan-19

A change in Melbourne University Publishing’s editorial policy has prompted the resignation of long-serving CEO Louise Adler and five independent directors of the venerable publishing house. The University of Melbourne’s vice-­chancellor Duncan Maskell has ordered MUP to exit trade publishing and focus exclusively on academic publishing. Several of the directors who resigned have questioned whether MUP will be viable under its new business model, noting the limited market in Australia for academic works.

CORPORATES
MELBOURNE UNIVERSITY PUBLISHING LIMITED, UNIVERSITY OF MELBOURNE, UNIVERSITY OF QUEENSLAND PRESS, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, QUEENSLAND. CRIME AND CORRUPTION COMMISSION, LIBERAL PARTY OF AUSTRALIA

Ratings pain as tennis fails to shine for Nine

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Original article by Andrew White
The Australian – Page: 3 : 29-Jan-19

The Nine Network’s coverage of the 2019 Australian Open men’s final attracted an average national audience of 2.085 million. It was the lowest combined audience since 2007, while Seven attracted an audience of 2.37 million for its last men’s final broadcast in 2018. The women’s final attracted a combined average of 1.57 million. Nine spent $55m on its coverage of the 2019 Australian Open, and boasted advertising revenue of $45m. In contrast, Nine had spent $105m a year on broadcasting cricket, with ad revenue of $70m.

CORPORATES
NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN OPEN TENNIS, SEVEN NETWORK LIMITED