Uncategorized

Macquarie Media turns up the volume with profit surge

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 19 : 9-Aug-18

Australian-listed Macquarie Media has posted a 2017-18 net profit of $21.5m, which is 24 per cent higher than previously. Revenue was four per cent higher at $136.3m, and shareholders will receive a final dividend of $0.04 per share. Fairfax Media has a 54.5 per cent stake in the radio broadcaster, and Macquarie Media chairman Russell Tate says the group will benefit from the synergies arising from Fairfax’s proposed merger with Nine Entertainment Company.

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

Cottrell interview a mistake, says Sky

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 6 : 7-Aug-18

Blair Cottrell will not be seen on Sky News again, according to Angelos Frangopoulos. The CEO of Australian News Channel was responding to criticism of an interview between Cottrell, the former leader of the United Patriots Front, and Adam Giles on 5 August. Cottrell is known for his extremist views, once stating that all Australian classrooms should have a picture of Adolf Hitler on their wall. The criticism of Giles’ interview with Cottrell has prompted a management reshuffle at Sky News.

CORPORATES
SKY NEWS, AUSTRALIAN NEWS CHANNEL PTY LTD

Nine could sell Fairfax’s NZ arm

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 24 & 26 : 6-Aug-18

Nine Entertainment Company has flagged the possibility of divesting assets such as Fairfax Media’s regional newspapers and its New Zealand business if the proposed $4.06bn merger proceeds. Nine CEO Hugh Marks has held an investor roadshow to pitch the merger deal, which has prompted speculation of further consolidation in the media sector. Seven West Media has advised that it sees no need to pursue mergers and acquisitions in response to the Nine-Fairfax deal.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PRIVATE MEDIA PARTNERS PTY LTD, NEWS CORP AUSTRALIA PTY LTD, THE NEW DAILY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NBN TELEVISION

Murdoch needs to get in quick to secure free-to-air TV stations

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 29 : 6-Aug-18

Media experts believe that Rupert Murdoch’s News Corporation will eventually bid for Seven West Media following the proposed Nine-Fairfax merger and Ten Network’s sale to CBS. However, News Corp would have to satisfy the "minimum voices" rule, which was not affected by cross-media ownership reforms in 2017. It requires major newspapers, TV stations and radio stations in metropolitan areas to be held by five different owners. A Murdoch bid for Seven would breach the "voices test" in Adelaide if a rival media company moved first by acquiring HT&E’s Australian Radio Network.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION, AUSTRALIAN RADIO NETWORK PTY LTD, HT&E LIMITED – ASX HT1, NOVA ENTERTAINMENT PTY LTD, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Coles bagged online for bag backflip

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 2-Aug-18

Retail expert Gary Mortimer says retailer Coles risks "reputational damage" if it persists with its policy of issuing free reusable plastic bags while at the same time claiming it was reducing its use of plastic. Coles ceased providing single-use plastic bags in most states on 1 July, stating it would issue free reusable plastic bags until 1 August, after which time customers would have to pay for them. However, it has backed down on its plans to charge for them, stating on 1 August that it would continue to issue them for free for an "indefinite period".

CORPORATES
COLES SUPERMARKETS AUSTRALIA PTY LTD WOOLWORTHS GROUP LIMITED – ASX WOW HARRIS FARM MARKETS PTY LTD QUEENSLAND UNIVERSITY OF TECHNOLOGY CITIGROUP PTY LTD METCASH LIMITED – ASX MTS

Seven West Media CEO Tim Worner wants overnight TV ratings dumped

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: Online : 2-Aug-18

Seven West Media CEO Tim Worner told the Think TV panel on 1 August that the industry should stop producing overnight ratings numbers, as they are misleading. Worner noted that many people are now watching programs at a different time from when it is actually broadcast. He suggested that networks should only release ratings numbers when they know the total audience for a program, which might be seven days after it was broadcast, or perhaps even 28 days. Meanwhile, figures for broadcast video on-demand show that BVOD revenue rose by 40.5 per cent to $50 million for the six months to 30 June.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC TEN GROUP LIMITED FOXTEL MANAGEMENT PTY LTD

Race slur a blight on ABC: Mundine

roymorgansocial Leave a comment

Original article by Remy Varga
The Australian – Page: 9 : 1-Aug-18

Aboriginal businessman Warren Mundine claims the response by the ABC to his complaint about an alleged racial slur made by political commentator Paul Bongiorno is inadequate. Bongiorno made the alleged slur on Twitter in July. ABC MD Michelle Guthrie told Mundine that its social media policy does not apply to Bongiorno, as he is an "external political commentator", and that his comment was not made on an ABC platform. Mundine refutes this argument, noting that as Bongiorno is a paid contractor of the ABC, he should come under its social media guidelines. He wants Guthrie to conduct a formal review of Bongiorno’s comments.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION SKY NEWS

Scott backs strong migrant intake

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 21 : 1-Aug-18

Wesfarmers CEO Rob Scott contends that any decline in Australia’s migration numbers would not be good for economic growth, and would result in less jobs and lower wages. Scott, who was addressing the American Chamber of Commerce in Perth on 31 July, concedes that there is a degree of community backlash against high immigration levels, but suggests part of this is the result of governments failing to invest in new infrastructure. Scott says companies need to "build trust" around how they function.

CORPORATES
WESFARMERS LIMITED – ASX WES

Nine-Fairfax news quality is key: ACCC

roymorgansocial Leave a comment

Original article by John McDuling
The Age – Page: 9 : 31-Jul-18

Australian Competition & Consumer Commission chairman Rod Sims says the ACCC will be closely examining the proposed $4 billion merger between Nine Entertainment and Fairfax Media. Although media diversity comes under the auspice of the Australian Communications & Media Authority, Sims says the ACCC could take action against the deal if it felt it could lead to a reduction in the quality of news being provided post-merger. He said the ACCC would allow itself 12 weeks to study the merger once it gets submissions from the "merger parties".

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC FAIRFAX MEDIA LIMITED – ASX FXJ AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA STAN ENTERTAINMENT PTY LTD 3AW SOUTHERN CROSS RADIO PTY LTD 2GB 6PR SOUTHERN CROSS RADIO PTY LTD

Biggest shoe retailer gets same-day jump on Amazon

roymorgansocial Leave a comment

Original article by Patrick Hatch
The Age – Page: 20 : 30-Jul-18

Footwear chain Accent Group launched same-day delivery from some of its Platypus shoe stores in the week ending 27 July. It aims to expand same-day delivery across its 350-store network over the next two months, with its other brands including Athlete’s Foot and Hype DC. Accent’s chief digital officer Mark Teperson said its new service had proven to be quite popular in its first week of operation, and he hopes it will help Accent to ward off competition from Amazon. Amazon offers same-day delivery in some parts of the US, but not yet in Australia.

CORPORATES
ACCENT GROUP LIMITED – ASX AX1 PLATYPUS SHOES PTY LTD THE ATHLETE’S FOOT AUSTRALIA PTY LTD HYPE DC PTY LTD AMAZON.COM INCORPORATED SKECHERS INCORPORATED VANS INCORPORATED BB RETAIL CAPITAL PTY LTD