BUSINESS AND POLITICS – AUSTRALIA

Turnbull looks at licence fee cuts

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Original article by Darren Davidson
The Australian – Page: 26 : 27-Jul-15

Australia’s commercial TV networks have received some support from Communications Minister Malcolm Turnbull for their push to have broadcasting licence fees reduced. It is believed that Free TV Australia will be invited to press its case for a licence fee reduction to key policymakers, while Commercial Radio Australia will push for a reduction in radio broadcasting licence fees. However, Turnbull seems unlikely to pursue changes to anti-siphoning laws for broadcasting sporting events.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, FREE TV AUSTRALIA LIMITED, COMMERCIAL RADIO AUSTRALIA LIMITED, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NETFLIX INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

New front in war over super governance

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 1 & 2 : 27-Jul-15

The Federal Government’s proposed superannuation reforms have been criticised by Industry Super Australia in its submission to Assistant Treasurer Josh Frydenberg. The reforms will require one-third of super fund directors, and the chairman, to be independent, while employers and unions will no longer need to have representatives on the board. ISA argues that under the current governance model industry funds’ returns have generally been higher than those of retail funds.

CORPORATES
INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, HOST-PLUS, NATIONAL SENIORS AUSTRALIA LIMITED, MASTER BUILDERS AUSTRALIA INCORPORATED

Turnbull calls for TV licence trade-offs

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Original article by Dominic White
The Australian Financial Review – Page: 8 : 24-Jul-15

The CEOs of Australia’s commercial TV networks pressed their case for a reduction in broadcast licence fees when they met with Communications Minister Malcolm Turnbull on 23 July 2015. Turnbull has acknowledged that the networks are facing growing competition from companies such as streaming video providers, but he told the networks that they will need to suggest ways to offset the fall in government revenue if licence fees are reduced.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, FREE TV AUSTRALIA LIMITED, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Turnbull set to grill TV executives

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Original article by Dominic White
The Australian Financial Review – Page: 19 : 23-Jul-15

The CEOs of most of Australia’s metropolitan and regional commercial TV networks will meet with Communications Minister Malcolm Turnbull on 23 July 2015. They will press their case for a reduction in annual broadcasting licence fees, an issue on which there is rare consensus in the industry. However, Turnbull is tipped to take a tough stance after the networks thwarted the Federal Government’s bid to allow public broadcaster SBS to show more advertisements each hour.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, SPECIAL BROADCASTING SERVICE (SBS), SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, FREE TV AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Turnbull to talk up fee cuts

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 20-Jul-15

The CEOs of free-to-air TV networks will be able to press their case for a reduction in licence fees when they meet with Communications Minister Malcolm Turnbull on 23 July 2015. The annual licence fee is currently set at 4.5 per cent of each network’s revenue, but they believe that the fee should be reduced or scrapped due to competition from new media players such as streaming video providers. Free TV Australia also argue that Australia’s licence fees are higher than in countries such as the UK.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, FREE TV AUSTRALIA LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN LABOR PARTY, NETFLIX INCORPORATED, YOUTUBE INCORPORATED, GOOGLE INCORPORATED

CFOs lose patience with pace of reform

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Original article by Jacob Greber, Lucille Keen
The Australian Financial Review – Page: 3 : 16-Jul-15

A quarterly survey of CFOs by Deloitte shows that nearly 74 per cent of respondents think the Australian Government should act more quickly to reduce the Budget deficit. This compares with 54 per cent 12 months earlier. Meanwhile, 56 per cent of CFOs do not expect the small business measures in the May 2015 Budget to do much to boost business investment. However, 68 per cent anticipate that their company’s revenue will rise in the next year.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

IOOF pays out compensation to 57 clients

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Original article by Adele Ferguson, Sarah Danckert
The Australian Financial Review – Page: 14 : 7-Jul-15

IOOF CEO Chris Kelaher will appear before a Senate committee on 7 July 2015 to answer questions over allegations of misconduct at the financial services group. Meanwhile, IOOF has indicated that 57 clients have been paid a total of $A2.8m in compensation since mid-2013, after lodging complaints about its financial planners. A number of IOOF’s authorised financial planners have also been banned from working in the sector during the last decade.

CORPORATES
IOOF HOLDINGS LIMITED – ASX IFL, AUSTRALIAN WEALTH MANAGEMENT LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CONSULTUM FINANCIAL ADVISERS PTY LTD, MFS PREMIUM INCOME FUND, MY ADVISER PTY LTD, BRIDGES FINANCIAL SERVICES PTY LTD, PLAN B FINANCIAL SERVICES LIMITED, LONSDALE FINANCIAL GROUP LIMITED, ORD MINNETT GROUP LIMITED, THE WEALTH MANAGERS

Regions running scare campaign, says Seven

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Original article by Max Mason
The Australian Financial Review – Page: 36 : 6-Jul-15

Southern Cross Media Group CEO Grant Blackley says the Australian Government should review cross-media ownership laws to ensure a "level playing field" for regional TV broadcasters. However, Seven West Media CEO Tim Worner argues that regional networks’ primary motivation for scrapping the "reach rule" is to make them more appealing to potential suitors. He argues that they should instead lobby for a reduction in licence fees, which could be redirected to local content such as news.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS

PM rejects rural MP concerns over media law reform

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 3-Jul-15

Prime Minister Tony Abbott says changes to cross-media ownership laws will only be on the agenda if all media groups support reform. MPs in regional electorates have called for the current laws to be scrapped, amid concerns that regional TV broadcasters will be forced to cut jobs and local news services. Meanwhile, Fairfax Media CEO Greg Hywood says the competition regulator should closely examine Ten’s proposed equity deal with Foxtel, due to News Corp’s 50 per cent stake in the latter.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FAIRFAX MEDIA LIMITED – ASX FXJ, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA. DEPT OF COMMUNICATIONS, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PRESTO ENTERTAINMENT PTY LTD, DOMAIN.COM.AU, NATIONAL RUGBY LEAGUE, AUSTRALIAN FOOTBALL LEAGUE, MULTI CHANNEL NETWORK PTY LTD, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

Abbott bowed to mates: Hartigan

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 2-Jul-15

Regional TV broadcasters will use a media campaign to push for the Australian Government to reconsider its decision to shelve cross-media ownership reforms. Prime Media Group chairman John Hartigan has warned that jobs at regional broadcasters and local news services will be at risk if the proposed reforms to do not proceed. He has suggested that Prime Minister Tony Abbott was "kowtowing" to media barons Rupert Murdoch and Kerry Stokes in abandoning the reforms.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF COMMUNICATIONS, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, FOXTEL MANAGEMENT PTY LTD, NOVA, AUSTRALIA. DEPT OF AGRICULTURE